Northland Securities analyst Michael Latimore maintained a Buy rating on RingCentral (RNG – Research Report) today and set a price target of $43.00. The company’s shares closed yesterday at $29.99.
According to TipRanks, Latimore is a 5-star analyst with an average return of 18.2% and a 51.12% success rate. Latimore covers the Technology sector, focusing on stocks such as Synchronoss Technologies, Rekor Systems, and Matterport.
In addition to Northland Securities, RingCentral also received a Buy from KeyBanc’s Thomas Blakey in a report issued today. However, on the same day, Craig-Hallum reiterated a Hold rating on RingCentral (NYSE: RNG).
Based on RingCentral’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $558.16 million and a GAAP net loss of $42.12 million. In comparison, last year the company earned a revenue of $509.03 million and had a GAAP net loss of $284.62 million
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RingCentral (RNG) Company Description:
Founded in 1999, California-based RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company’s products include RingCentral Professional, RingCentral Office, RingCentral Glip, and RingCentral Fax.
