RingCentral (RNG) AT&T Extension a 'Positive' - William Blair

William Blair analyst Bhavan Suri weighed in on RingCentral (NYSE: RNG) after the company announced an extension of its relationship with AT&T.

Suri said while the deal is not exclusive, and AT&T will continue to sell Collaborate, it "a positive". He believes AT&T is "looking for another arrow in its quiver to address the increasingly complex and distributed communication and collaboration needs of its business customers."

Further, he added, the new deal is "evidence of the continued strengthening of RingCentral’s enterprise offerings with differentiated global capabilities, team messaging, and vertical expertise particularly in the financial services and healthcare segments."

The firm reiterated an Outperform rating.

For an analyst ratings summary and ratings history on RingCentral click here. For more ratings news on RingCentral click here.

Shares of RingCentral closed at $94.60 yesterday.

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