Stephens analyst Dmitry Netis maintained a Hold rating on RingCentral (RNG) today and set a price target of $95. The company’s shares opened today at $121.06, close to its 52-week high of $121.28.
Netis wrote:
“We remain Equal-Weight/Vol. on valuation (9.1x CY20 EV/sales vs. CaaS peers at 5.0x), and intensifying vendor competition. KEY Key Metrics Stephens Consensus Actual vs. Street Revenue ($ mil.) 193.3 193.5 201.5 4.1% Subscription Rev. ($ mil.) 176.5 176.8 182.7 3.3% ($ mil.) 205.9 203.1 204.5 0.7% Subscription Rev. ($ mil.) 187.5 185.3 186.5 0.6% ($ mil.) 860.4 854.8 864.0 1.1% Subscription Rev. ($ mil.) 784.4 780.7 788.0 0.9% FactSet Research Systems, Company reports, Stephens Inc.”
According to TipRanks.com, Netis is ranked #270 out of 5200 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RingCentral with a $116.50 average price target.
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Based on RingCentral’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.68 million. In comparison, last year the company had a GAAP net loss of $2.72 million.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock.
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RingCentral, Inc. engages in the provision of global enterprise cloud communications and collaboration solutions. Its solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones; and allow for communication across multiple modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings and fax. It sells its products under the RingCentral Professional, RingCentral Glip, and RingCentral Fax brands. The company was founded by Vlad Vendrow and Vladimir Shmunis in 1999 and is headquartered in Belmont, CA.
