RingCentral (RNG) PT Lowered to $75 at Raymond James

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Go back to RingCentral (RNG) PT Lowered to $75 at Raymond James

RingCentral (RNG) beats to send shares 13% higher, stock 'unappreciated' says DB

November 10, 2022 7:24 AM EST

RingCentral (NYSE: RNG) reported better-than-expected third-quarter results to send its shares nearly 13% higher in pre-market trading.

The company reported EPS of $0.55 on revenue of $509 million, beating the consensus of $0.50 on revenue of $502.79 million. RingCentral said its software subscription revenue soared 25% year-over-year to $483.2 million, ahead of analyst estimates.

The operating margin came in at 13.5% to top the 12.5% consensus. CEO... More