Barclays analyst Ryan MacWilliams maintained a Buy rating on RingCentral (RNG – Research Report) today and set a price target of $45.00. The company’s shares closed yesterday at $34.38.
MacWilliams covers the Technology sector, focusing on stocks such as Atlassian, Similarweb, and Five9. According to TipRanks, MacWilliams has an average return of 15.6% and a 59.54% success rate on recommended stocks.
In addition to Barclays, RingCentral also received a Buy from Needham’s Ryan Koontz in a report issued yesterday. However, on the same day, UBS maintained 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.
Read More on RNG:
- RingCentral Inc. Confronts ESG Pressures: Balancing Stakeholder Expectations with Regulatory Demands
- RingCentral Inc Earnings Report: Did it Beat Expectations?
- RingCentral Bolsters Governance with New Board Appointments
- RingCentral raises FY24 EPS view to $3.59-$3.67 from $3.50-$3.58
- RingCentral sees Q2 adjusted EPS 87c-88c, consensus 85c
