RingCentral Announces Second Quarter 2020 Results
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RingCentral (RNG) PT Raised to $350 at BofA Securities
August 4, 2020 7:48 AM EDTBofA Securities analyst Nikolay Beliov raised the price target on RingCentral (NYSE: RNG) to $350.00 (from $305.00) while maintaining a Buy rating.
Strong 2Q on upmarket traction as previewed2020 top pick... MoreRingCentral (RNG) PT Raised to $345 at Rosenblatt
August 4, 2020 6:35 AM EDTRosenblatt analyst Ryan Koontz raised the price target on RingCentral (NYSE: RNG) to $345.00 (from $320.00) while maintaining a Buy rating following results.
The analyst commented, "We believe RNG's vertical-centric go-to-market strategy continues to distance the company from competitors and the company's major new... More
RingCentral (RNG) PT Raised to $340 at Needham & Company
August 4, 2020 6:23 AM EDTNeedham & Company analyst Richard Valera raised the price target on RingCentral (NYSE: RNG) to $340.00 (from $300.00) while maintaining a Buy rating.
The analyst commented, ": Following a 1Q upside, which was slightly muted by net COVID-related headwinds, RNG delivered a strong (+5.4%) 2Q20 revenue beat and raise.... More
Ringcentral, Inc. (RNG) Tops Q2 EPS by 4c, Revenues Miss; Raises FY20 EPS/Revenue Guidance, Provides 3Q EPS/Revenue Outlook
August 3, 2020 4:07 PM EDTRingcentral, Inc. (NYSE: RNG) reported Q2 EPS of $0.24, $0.04 better than the analyst estimate of $0.20. Revenue for the quarter came in at $257 million versus the consensus estimate of $263.78 million.
Second Quarter Financial Highlights
Total revenue increased 29% year over year to $278 million.Subscriptions revenue increased 32% year over year to $257 million.Total Annualized Exit Monthly Recurring Subscriptions (ARR) increased 33% year over year to $1.1 billion.RingCentral Office® ARR increased 36% year over year to $1.0 billion.Mid-market and Enterprise ARR increased 50% year over year to $581 million.Enterprise ARR increased 58% year over year to... More