RingCentral +5.4% after beat-and-raise in Q3 [Seeking Alpha]
RingCentral, Inc. Class A (RNG)
Last ringcentral, inc. class a earnings: 2/10 04:05 pm
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US:NYSE Investor Relations:
ir.ringcentral.com
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Source: Seeking Alpha
RingCentral +5.4% after beat-and-raise in Q3RingCentral (NYSE:RNG) hasgained 5.4% postmarket after its top and bottom line beat expectations in Q3 and it boosted full-year guidance.Revenues grew by a third, and subscriptions revenue by 32%.Meanwhile annualized exit monthly recurring subscriptions (ARR) rose 31% to $674M; RingCentral Office ARR rose 36% to $592M. Mid-market and enterprise ARR rose 75%, to $270M, as enterprise ARR more than doubled to $146M.That's "excellent," says founder, Chairman and CEO Vlad Shmunis. "Our mid-market and enterprise businesses continue to lead the way supported by momentum from our channel partners ... we believe we are well positioned to achieve our goal of exceeding $1 billion in revenue in 2020.”For Q4, it's guiding to revenue of $179M-$182M (27-29% growth, and above consensus for $175.6M), operating margin of 7.9-8.1%, and EPS of $0.17-$0.19 (vs. an expected $0.17).For the full year, it's raising guidance on revenues to $664M-$667M from $649M-$656
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News
- RingCentral, Inc. (NYSE: RNG) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- RingCentral, Inc. (NYSE: RNG) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $38.00 to $42.00. They now have a "buy" rating on the stock.MarketBeat
- RingCentral, Inc. (NYSE: RNG) had its "neutral" rating re-affirmed by analysts at Wedbush. They now have a $40.00 price target on the stock.MarketBeat
- RingCentral, Inc. (NYSE: RNG) had its price target raised by analysts at Robert W. Baird from $32.00 to $35.00. They now have a "neutral" rating on the stock.MarketBeat
- RingCentral (RNG) Q1 Earnings Top Estimates, Revenues Up Y/Y [Yahoo! Finance]Yahoo! Finance
RNG
Earnings
- 5/7/24 - Beat
RNG
Sec Filings
- 5/7/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 4/24/24 - Form 10-K/A
- RNG's page on the SEC website