UBS Maintains Neutral on RingCentral, Raises Price Target to $300
UBS analyst Taylor McGinnis maintains RingCentral (NYSE:RNG) with a Neutral and raises the price target from $275 to $300.
Deutsche Bank Maintains Buy on RingCentral, Lowers Price Target to $400
Deutsche Bank analyst Matthew Niknam maintains RingCentral (NYSE:RNG) with a Buy and lowers the price target from $450 to $400.
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RingCentral (NYSE: RNG) shares are trading higher after the company reported better-than-expected Q2 EPS and sales results and issued Q3 and FY21 EPS and sales guidance above estimates.
RingCentral: Q2 Earnings Insights
Shares of RingCentral (NYSE:RNG) moved higher in after-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share were up 33.33% year over year to $0.32, which beat the estimate of $0.28.
RingCentral Sees Q3 Adj. EPS $0.33-$0.34 vs $0.31 Est., Sales $390.5M-$393.5M vs $384.47M Est.; Sees FY21 Adj. EPS $1.28-$1.30 vs $1.26 Est., Sales $1.539B-$1.545B vs $1.51B Est.
Financial Outlook
Full Year 2021 Guidance:
Raising total revenue range to $1.539 to $1.545 billion, representing annual growth of 30% to 31%. This is up from our prior range
RingCentral Q2 Adj. EPS $0.32 Beats $0.28 Estimate, Sales $379.00M Beat $359.51M Estimate
RingCentral (NYSE:RNG) reported quarterly earnings of $0.32 per share which beat the analyst consensus estimate of $0.28 by 14.29 percent. This is a 33.33 percent increase over earnings of $0.24 per share from the same
Earnings Scheduled For August 3, 2021
Companies Reporting Before The Bell
• Myriad Genetics (NASDAQ:MYGN) is likely to report earnings for its fourth quarter.
• Stellantis (NYSE:STLA) is expected to report earnings for its second quarter.
Why Shares Of RingCentral Fell Today
RingCentral (NYSE: RNG) shares are trading lower after Zoom (NASDAQ: ZM) acquired phone service provider Five9 (NASDAQ: FIVN), whi
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Gainers
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