RingCentral Announces Fourth Quarter 2020 Results
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RingCentral (RNG) PT Raised to $500 at Rosenblatt
February 17, 2021 5:06 AM ESTRosenblatt analyst Ryan Koontz raised the price target on RingCentral (NYSE: RNG) to $500.00 (from $430.00) while maintaining a Buy rating.
The analyst comments "RNG reported very strong 4Q20 results (AMC), beating consensus revenue (by +5%) and earnings (by +$.02). Total revenue (grew +33% y/y) with subscription... More
Ringcentral, Inc. (RNG) Tops Q4 EPS by 2c, Revenues Beat; Offers 1Q & FY21 EPS/Revenue Guidance Above Consensus
February 16, 2021 4:07 PM ESTRingcentral, Inc. (NYSE: RNG) reported Q4 EPS of $0.29, $0.02 better than the analyst estimate of $0.27. Revenue for the quarter came in at $335 million versus the consensus estimate of $317.42 million.
Fourth Quarter Financial Highlights
Total revenue increased 32% year over year to $335 million.Subscriptions revenue increased 34% year over year to over $306 million.Annualized Exit Monthly Recurring Subscriptions (ARR) increased 35% year over year to $1.3 billion.RingCentral Office® ARR increased 39% year over year to $1.2 billion.Mid-market and Enterprise ARR increased 49% year over year to $713 million.Enterprise ARR increased 55% year over year... More