RingCentral (NYSE:RNG) updated its FY20 earnings guidance on Monday. The company provided EPS guidance of $0.93-0.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.93. The company issued revenue guidance of $1.125-1.135 billion, compared to the consensus revenue estimate of $1.08 billion.RingCentral also updated its FY 2020
After-Hours guidance to 0.93-0.94 EPS.
A number of research firms have issued reports on RNG. Wells Fargo & Co began coverage on shares of RingCentral in a report on Monday, January 27th. They set an overweight rating and a $240.00 price target for the company. Morgan Stanley upped their price target on shares of RingCentral from $170.00 to $195.00 and gave the company an equal weight rating in a report on Monday, January 13th. Piper Jaffray Companies initiated coverage on shares of RingCentral in a report on Tuesday, December 10th. They set an overweight rating and a $194.00 price target for the company. William Blair restated a buy rating on shares of RingCentral in a research note on Thursday. Finally, Oppenheimer raised their price objective on shares of RingCentral from $200.00 to $210.00 and gave the stock an outperform rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $179.62.
Shares of RingCentral stock traded up $5.14 during midday trading on Monday, reaching $212.61. The company had a trading volume of 1,751,052 shares, compared to its average volume of 992,376. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $17.41 billion, a price-to-earnings ratio of -518.56 and a beta of 0.80. The stock has a fifty day simple moving average of $188.57 and a 200 day simple moving average of $160.71. RingCentral has a 1-year low of $98.19 and a 1-year high of $213.55.
RingCentral Company Profile
RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.
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