RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers. The company's products also comprise RingCentral Engage Voice, a cloud-based outbound/blended customer engagement platform for midsize and enterprise companies; RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office; and RingCentral Live Reports, an add-on for RingCentral Office customers to gather real-time information. In addition, it offers RingCentral Professional, a cloud based virtual telephone service that provides inbound call answering and management services for professionals; and RingCentral Fax that provides online fax capabilities. The company serves a range of industries, including financial services, education, healthcare, legal services, real estate, retail, technology, insurance, construction, hospitality, and state and local government, as well as others. It sells its products through a network of direct sales representatives, as well as sales agents, resellers, and channel partners. RingCentral, Inc. has strategic partnerships with Alcatel-Lucent Enterprise; and Vodafone Business. The company was incorporated in 1999 and is headquartered in Belmont, California.
IPO Year: 2013
Exchange: NYSE
Website: ringcentral.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
8/2/2024 | $45.00 | Neutral → Buy | Rosenblatt |
12/20/2023 | $36.00 | Overweight → Equal Weight | Wells Fargo |
12/12/2023 | $40.00 → $35.00 | Buy → Hold | Jefferies |
10/23/2023 | $52.00 → $35.00 | Buy → Neutral | Rosenblatt |
8/8/2023 | Overweight → Equal-Weight | Morgan Stanley | |
8/8/2023 | $38.00 | Buy → Hold | Craig Hallum |
5/26/2023 | $42.00 | Hold → Buy | Needham |
5/11/2023 | $52.00 → $37.00 | Buy → Neutral | Goldman |
5/11/2023 | $40.00 → $45.00 | Neutral → Outperform | Credit Suisse |
3/24/2023 | $35.00 | Buy | Rosenblatt |
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4 - RingCentral, Inc. (0001384905) (Issuer)
4 - RingCentral, Inc. (0001384905) (Issuer)
Piper Sandler analyst James Fish maintains RingCentral (NYSE:RNG) with a Neutral and lowers the price target from $32 to $31.
Wells Fargo analyst Michael Turrin maintains RingCentral (NYSE:RNG) with a Equal-Weight and lowers the price target from $33 to $28.
Needham analyst Ryan Koontz reiterates RingCentral (NYSE:RNG) with a Buy and maintains $42 price target.
Vodafone Business Ireland and RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced the launch of Vodafone Business UC with RingCentral to organizations of all sizes in Ireland. Already accessible in Italy, Spain, Portugal, Germany, and the United Kingdom, this solution enables businesses to facilitate seamless communication and collaboration for their workforces from virtually any device, anywhere, at any time. With this offering, Vodafone Business Ireland and RingCentral are empowering businesses to embrace the evolving landscape of hybrid work.
New Hybrid Solution Empowers Customers to Combine Existing Avaya Investments with Enhanced Collaboration Capabilities from RingCentralRingCentral Enhances Avaya Cloud Office with RingSense AI and Microsoft Teams IntegrationToday at Avaya ENGAGE, RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, and Avaya, a global leader in customer experience and communications solutions, announced an expansion of offerings for Avaya customers, including a new hybrid solution of RingCentral's AI-powered cloud business communications solution with Avaya Aura telephony, providing enhanced collaboration capabilities.
Deutsche Bank analyst Matthew Niknam maintains RingCentral (NYSE:RNG) with a Buy and raises the price target from $38 to $42.
Wedbush analyst Taz Koujalgi reiterates RingCentral (NYSE:RNG) with a Neutral and maintains $40 price target.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Baird raised the price target for RingCentral, Inc. (NYSE:RNG) from $32 to $35. Baird analyst William Power maintained a Neutral rating. RingCentral shares surged 14.6% to close at $34.38 on Wednesday. See how other analysts view this stock. Piper Sandler boosted the price target for Robinhood Markets, Inc. (NASDAQ:HOOD) from $17 to $18. Piper Sandler analyst Patrick Moley maintained a Neutral rating. Robinhood shares fell 0.8% to close at $17.85 on Wednesday. See how other analysts view this stock
Baird analyst William Power maintains RingCentral (NYSE:RNG) with a Neutral and raises the price target from $32 to $35.
Q2 2024 key metrics above high end of guidance Achieves record net cash provided by operating activities and record free cash flow Raising 2024 revenue outlook RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced financial results for the second quarter ended June 30, 2024. Second Quarter Financial Highlights Total revenue increased 10% year-over-year to $593 million. Subscriptions revenue increased 10% year-over-year to $567 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.43 billion. Mid-market and Enterprise ARR inc
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced that it will report financial results for the second quarter ended June 30, 2024 after market close on August 1, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on Au
Q1 2024 key metrics above high end of guidance Raising 2024 revenue outlook Share repurchase authorization increased by $250 million RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced financial results for the first quarter ended March 31, 2024. First Quarter Financial Highlights Total revenue increased 9% year-over-year to $584 million. Subscriptions revenue increased 10% year-over-year to $557 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 10% year over year to $2.37 billion. Mid-market and Enterprise ARR increased 11% year over year to
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced that it will report financial results for the first quarter ended March 31, 2024 after market close on May 7, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-844-274-3686 from the United States or 1-412-317-5645 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on May 1
Total ARR up 11% to $2.33 billion Enterprise ARR up 13% to over $1 billion Record quarterly net cash provided by operating activities of $114 million RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter Financial Highlights Total revenue increased 9% year over year to $571 million Subscriptions revenue increased 9% year over year to $547 million Annualized Exit Monthly Recurring Subscriptions (ARR) increased 11% year over year to $2.329 billion Mid-market and Enterprise ARR i
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-first global enterprise cloud communications, video, webinars, hybrid events, and contact center solutions, today announced that it will report financial results for the fourth quarter ended December 31, 2023 after market close on Tuesday, February 20, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call
Q3 2023 revenue above high end of guidance Q3 2023 GAAP and non-GAAP operating margin up strongly Raising midpoint of 2023 revenue outlook RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the third quarter ended September 30, 2023. Third Quarter Financial Highlights Total revenue increased 10% year over year to $558 million. Subscriptions revenue increased 10% year over year to $531 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 11% year over year to $2.26 billion. Mid-market and Enterprise ARR
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that it will report financial results for the third quarter ended September 30, 2023 after market close on Monday, November 6, 2023. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call t
Tarek Robbiati to Assume CEO Role; Vlad Shmunis to Become Executive Chairman RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that Tarek Robbiati, a member of the RingCentral Board of Directors since December 2022 and Chief Financial Officer and EVP of Finance and Strategy of Hewlett Packard Enterprise (NYSE:HPE), has been appointed as the Company's Chief Executive Officer, effective August 28, 2023. Robbiati will remain a member of the Company's Board. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/
Q2'23 results exceed high end of guidance across all key metrics Announces CEO succession RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the second quarter ended June 30, 2023. Second Quarter Financial Highlights Total revenue increased 11% year over year to $539 million. Subscriptions revenue increased 11% year over year to $514 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 12% year over year to $2.22 billion. Mid-market and Enterprise ARR increased 13% year over year to $1.37 billion. GAAP o
Rosenblatt upgraded RingCentral from Neutral to Buy and set a new price target of $45.00
Wells Fargo downgraded RingCentral from Overweight to Equal Weight and set a new price target of $36.00
Jefferies downgraded RingCentral from Buy to Hold and set a new price target of $35.00 from $40.00 previously
Rosenblatt downgraded RingCentral from Buy to Neutral and set a new price target of $35.00 from $52.00 previously
Morgan Stanley downgraded RingCentral from Overweight to Equal-Weight
Craig Hallum downgraded RingCentral from Buy to Hold and set a new price target of $38.00
Needham upgraded RingCentral from Hold to Buy and set a new price target of $42.00
Goldman downgraded RingCentral from Buy to Neutral and set a new price target of $37.00 from $52.00 previously
Credit Suisse upgraded RingCentral from Neutral to Outperform and set a new price target of $45.00 from $40.00 previously
Rosenblatt initiated coverage of RingCentral with a rating of Buy and set a new price target of $35.00
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Coupa's AI-driven total spend management platform empowers RingCentral to optimize spend FOSTER CITY, Calif., Aug. 8, 2024 /PRNewswire/ -- Coupa, the margin multiplier company, today announced that RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, has deployed Coupa to help optimize its spend and business operations. After a decade of growing revenues, RingCentral was looking to modernize its back-office operations as its business continues to scale. RingCentral chose Coupa to automate
Q2 2024 key metrics above high end of guidance Achieves record net cash provided by operating activities and record free cash flow Raising 2024 revenue outlook RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced financial results for the second quarter ended June 30, 2024. Second Quarter Financial Highlights Total revenue increased 10% year-over-year to $593 million. Subscriptions revenue increased 10% year-over-year to $567 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.43 billion. Mid-market and Enterprise ARR inc
Praises RingCentral's cloud phone solution RingEX for unparalleled communications reliability and call quality Achieves 92% time savings for supervisors reviewing agent calls with RingSense for Sales Anticipates resolving customer issues and closing deals 20% faster with RingSense for RingCX RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced the transformative impact its solutions have had on the employee and patient experience at MedCare Equipment, a leading provider of home and durable medical equipment. Leveraging RingEX™, RingCentral's flagship unified communications solutio
HERNDON, Va., July 18, 2024 /PRNewswire/ -- Four Inc. has been named a public sector aggregator for RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions. Under the agreement, RingCentral's flagship RingEX™ and native contact center RingCX™ solutions will be available to the public sector through Four Inc.'s NASA Solutions for Enterprise-Wide Procurement (SEWPV), Information Technology Enterprise Solutions - Software 2 (ITES-SW2), U.S. General Services Administration (GSA), OMNIA Partners Cooperative contract vehicles, and Four Inc.'s network of channel partners as part of the company's boutique aggregat
Vodafone Business to extend current UC offering to more than 30 countries globally RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced that it is expanding its strategic partnership with Vodafone Business to offer Vodafone Business Contact Center with RingCentral, powered by RingCX™. By offering Contact Center as a Service (CCaaS) along with its Unified Communications as a Service (UCaaS) offering, Vodafone Business UC with RingCentral, Vodafone Business will enable its multinational customer base to provide exceptional customer experiences. In addition, Vodafone Business will extend
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced that it will report financial results for the second quarter ended June 30, 2024 after market close on August 1, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on Au
Vodafone Business Ireland and RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced the launch of Vodafone Business UC with RingCentral to organizations of all sizes in Ireland. Already accessible in Italy, Spain, Portugal, Germany, and the United Kingdom, this solution enables businesses to facilitate seamless communication and collaboration for their workforces from virtually any device, anywhere, at any time. With this offering, Vodafone Business Ireland and RingCentral are empowering businesses to embrace the evolving landscape of hybrid work. This press release features multimedia
New Hybrid Solution Empowers Customers to Combine Existing Avaya Investments with Enhanced Collaboration Capabilities from RingCentral RingCentral Enhances Avaya Cloud Office with RingSense AI and Microsoft Teams Integration Today at Avaya ENGAGE, RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, and Avaya, a global leader in customer experience and communications solutions, announced an expansion of offerings for Avaya customers, including a new hybrid solution of RingCentral's AI-powered cloud business communications solution with Avaya Aura telephony, providing enhanced collaboration capabili
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced that members of its management team are scheduled to present at the following investor conferences: 19th Annual Needham Technology, Media, & Consumer Conference Date: Tuesday, May 14, 2024 Time: 10:15 a.m. ET (7:15 a.m. PT) J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference Date: Monday, May 20, 2024 Time: 1:10 p.m. ET (10:10 a.m. PT) Jefferies Software Conference Date: Wednesday, May 29, 2024 Time: 11:00 a.m. ET (8:00 a.m. PT) Bank of America 2024 Global Technology Conference Date: Tuesday, June 4
Q1 2024 key metrics above high end of guidance Raising 2024 revenue outlook Share repurchase authorization increased by $250 million RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced financial results for the first quarter ended March 31, 2024. First Quarter Financial Highlights Total revenue increased 9% year-over-year to $584 million. Subscriptions revenue increased 10% year-over-year to $557 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 10% year over year to $2.37 billion. Mid-market and Enterprise ARR increased 11% year over year to
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced that Prat Bhatt has been appointed to the Company's Board of Directors, effective March 1, 2024. Bhatt has been named a member of the Board's audit committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240220097878/en/Photo of Prat Bhatt, courtesy of RingCentral Bhatt is an accomplished technology industry veteran and financial expert, having previously served as Chief Accounting Officer of Cisco Systems. In his more than 20 years at Cisco, Bhatt was instrumental in sc
Linking people, culture, and strategy to drive business value RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that Bobbie Grafeld has been appointed as Chief Human Resources Officer. Reporting to Mo Katibeh, President and Chief Operating Officer, Grafeld will be responsible for developing and executing human resources strategy in support of the company's overall strategic priorities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230613536735/en/Bobbie Grafeld, courtesy of RingCentral "We are deli
WWE® (NYSE:WWE) today announced that Michelle McKenna and JoEllen Lyons Dillon have been elected to its Board of Directors. McKenna spent more than two decades as a senior leader at Disney, Universal Studios and the NFL, working across technology, digital strategy and finance. From 2012 to 2022, McKenna served as Chief Information Officer for the NFL, where she was responsible for the league's technology strategy and served as the executive sponsor of the Women's Interactive Group. She serves on the Board of Directors of Ring Central (NYSE:RNG), where she is a member of the audit, compensation and nominating & governance committees. McKenna previously served on the Board of Directors of In
Mo Katibeh appointed as President and Chief Operating Officer RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced that Sonalee Parekh has been appointed as RingCentral's Chief Financial Officer and will join the Company in her new role by May 31, 2022. Parekh will be responsible for all the company's financial functions, including financial planning, controllership, tax, treasury, corporate development and investor relations. The company also announced that Mo Katibeh, Chief Operating Officer, has been appointed as President of RingCentral, effective immediately. This press
BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today appointed former U.S. Secretary of Education, Arne Duncan to the company’s board of directors. “Over the past year we have learned the importance of being able to communicate effectively from wherever we are,” said Secretary Duncan. “RingCentral’s vision of enabling people to learn and work from anywhere presents some intriguing opportunities for us all to rethink how this next generation of communications technologies will empower us as individuals, families, businesses and our communities
BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions today announced that industry security veteran, Heather Hinton has joined RingCentral as the company’s Chief Information Security Officer (CISO). Hinton joins RingCentral from IBM, where she spent 13 years in various leadership positions, most recently as vice president and IBM distinguished engineer, and CISO for the company’s Cloud and Cognitive Software business unit. Hinton brings more than 30 years of experience in Information Technology (IT) and cyber security expertise to RingCentral. Over
BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced that Matthew Bishop has been appointed as Chief Digital Officer. Bishop will be responsible for ensuring that RingCentral has the very best digital strategy, real time actionable insights and processes to support the growing operational needs of its global business. “We’re entering a new era of working from anywhere. Just as our customers transform, we must be ready to think differently and evolve as our business grows,” said Anand Eswaran, president and chief operating officer at RingCentral. “
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