Wells Fargo analyst Michael Turrin maintained a Hold rating on RingCentral (RNG – Research Report) yesterday and set a price target of $31.00. The company’s shares closed yesterday at $35.46.
Turrin covers the Technology sector, focusing on stocks such as Microsoft, HubSpot, and DocuSign. According to TipRanks, Turrin has an average return of -3.8% and a 47.73% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for RingCentral with a $37.43 average price target.
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 files automatic mixed securities shelf
- RingCentral price target lowered to $35 from $37 at Morgan Stanley
- RNG Earnings: RingCentral Stumbles as Q1 Outlook Disappoints Investors
- RingCentral price target lowered to $31 from $34 at Piper Sandler
- RingCentral price target raised to $37 from $34 at UBS
