Ringcentral, Inc. (NYSE:RNG) is set to announce third quarter earning results on Monday 9th November 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, RNG to report 3Q20 income of $ 0.24 per share.
For the full year, analysts anticipate top line of $ 1140.38 million, while looking forward to income of $ 0.93 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 1,125.00 million ~ $ 1,135.00 million, where as bottomline are predicted in a range of $ 0.93 ~ $ 0.94 per share
Click Here For More Historical Outlooks Of Ringcentral, Inc.
Previous Quarter Performance
Ringcentral, Inc. announced income for the second quarter of $ 0.24 per share, from the revenue of $ 277.99 million. The quarterly earnings swell 14.29 percent while revenues expanded 35.80 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.20 per share from $ 263.78 million in revenue. The bottom line results beat street analysts by $ 0.04 or 20.00 percent, at the same time, top line results outshined analysts by $ 14.21 million or 5.39 percent.
Stock Performance
On Friday, shares of Ringcentral, Inc. has traded high as $ 295.65 and has cracked $ 280.77 on the downward trend, reaching $ 294.34 with volume of 856.10 thousand shares.
According to the previous trading day, closing price of $ 294.34, representing a 112.85 % increase from the 52 week low of $ 134.85 and a 9.69 % decrease over the 52 week high of $ 317.84.
The company has a market capital of $ 26.18 billion and is part of the Technology sector and Software – Application industry.
Recent Analyst recommendations
- On 9th October 2020, initiated by Mizuho at Buy rating, with $ 350.00 target price.
- On 29th September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 300.00 target price.
Conference Call
Ringcentral, Inc. will be hosting a conference call at 5:00 PM eastern time on 9th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.ringcentral.com
RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The companys 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.
