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Needham Stick to Their Buy Rating for RingCentral


Needham analyst Richard Valera maintained a Buy rating on RingCentral (NYSE:RNG) on Tuesday, setting a price target of $340, which is approximately 17.13% above the present share price of $290.27.

Valera expects RingCentral to post earnings per share (EPS) of -$0.70 for the third quarter of 2020.

The current consensus among 18 TipRanks analysts is for a Strong Buy rating of shares in RingCentral, with an average price target of $315.59.
The analysts price targets range from a high of $370 to a low of $275.

In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $267.51 million and a net profit of -$25.49 million. The company’s market cap is $26.84 billion.

According to, Needham analyst Richard Valera is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 15.3% and a 65.22% success rate.

RingCentral, Inc. engages in the provision of global enterprise cloud communications and collaboration solutions. The firms 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.


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