RingCentral: Valuation Now Seems More Realistic [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
Company Research
Source: Seeking Alpha
Summary RingCentral ( RNG ) remains the leader in the UCaaS market and has earned their premium valuation. I previously wrote an article noting valuation appeared to be a bit stretched, given the stock was trading near all-time highs. Now down over 20% since my article, I think valuation has stepped down to more realistic levels and a strong Q3 earnings report reinforces the long-term thesis. RNG reported subscription revenue growing 38% in Q3, accelerating from 34% growth last year and even accelerated from 32% last quarter. The stock remains a winner over the past year, similar to their competitors in the UCaaS market, notably 8x8 ( EGHT ) and Vonage ( VG ). RNG data by YCharts RNG popped over 15% the days following their strong Q3 earnings report. However, market turbulence and consistent uncertainty about where the global economy is going have caused the tech sector to underperform as of recently. RNG has not been subject to any different treatment,
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RNG
News
- 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
- Ooma Office Wins PCMag 2024 Business Choice Award For VoIP Service [Yahoo! Finance]Yahoo! Finance
RNG
Earnings
- 2/20/24 - Beat
RNG
Sec Filings
- 4/3/24 - Form 4
- 4/1/24 - Form 144
- 3/15/24 - Form 4
- RNG's page on the SEC website