RingCentral: Strong Quarter Reinforces Premium Valuation [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: Strong Quarter Reinforces Premium Valuation Summary RingCentral reported another strong quarter with revenue growing 34% and was well ahead of consensus expectations for 28% growth. Management raised their guidance, now implying ~30% growth for the full year. Valuation continues to trade at a premium and rightfully so given strong revenue growth and outlook. RingCentral ( RNG Management also raised their 2019 guidance which now demonstrates revenue growing ~30% compared to consensus expectations for ~28% growth. In addition Q3 revenue guidance was better than expected. With the company firing on all cylinders and continuing their market-leading growth, there are few questions to why the stock is trading near all-time highs including trading up over 10% since reporting earnings. While I was previously a bit neutral on the name post-Q4 earnings, I believe the company has demonstrated two very strong quarters of growth and guidance raises, reinforcing their leadership positi
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RNG
News
- Why RingCentral (RNG) is a Top Value Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
- One-In-Four Satisfied Customers Don't Come Back [Forbes]Forbes
- RingCentral, Inc. (NYSE: RNG) had its price target lowered by analysts at Morgan Stanley from $35.00 to $32.00. They now have an "equal weight" rating on the stock.MarketBeat
- RingCentral Announces Date of First Quarter 2024 Financial Results Conference Call [Yahoo! Finance]Yahoo! Finance
- RingCentral Announces Date of First Quarter 2024 Financial Results Conference CallBusiness Wire
RNG
Earnings
- 2/20/24 - Beat
RNG
Sec Filings
- 4/24/24 - Form 10-K/A
- 4/3/24 - Form 4
- 4/1/24 - Form 144
- RNG's page on the SEC website