RingCentral (RNG) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 3.41%. A quarter ago, it was expected that this cloudbased phone system provider for small businesses would post earnings of $0.80 per share when it actually produced earnings of $0.87, delivering a surprise of 8.75%. O ...

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Most Powerful Force Impacting Stock Prices As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. H ...

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 ...

According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to d ...

Teladoc Health (TDOC) Source: Shutterstock RingCentral (NYSE:RNG) provides cloud-based communication and collaboration solutions. The RingEX and RingCX platforms clearly show the company's focus on advancement. The use of AI-driven technologies like RingSense AI boosts productivity and real-time interactions. With that, RingEX aims to improve the employee experience. In the meantime, RingCX provides a feature-rich contact center solution driven by AI that is available globally and includes over 1K functions ...

Lightning Renewables joint venture targets bringing approximately 40 landfill gas-to-renewable natural gas plants online in coming years. Fort Wayne plant is the largest Archaea Modular Design in Indiana, processing up to 6,400 standard cubic feet of landfill gas per minute (scfm), enough energy to heat more than 25,000 homes, according to the EPA Landfill Gas Energy Benefits calculator. Archaea Energy, a BP company.Archaea Energy, a BP company. Lightning Renewables Renewable Natural Gas Plant in Fort Wayne ...

A month has gone by since the last earnings report for RingCentral (RNG) . Shares have added about 1.5% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is RingCentral due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. RingCentral Q1 Earnings Top Estimates, Revenues Up ...

Group 1 - Zacks Premium offers various tools to help investors become more confident and informed, including daily updates on Zacks Rank and Industry Rank, Equity Research reports, and Premium stock screens [1][2] - The Zacks Style Scores rate stocks based on value, growth, and momentum characteristics, providing complementary indicators to the Zacks Rank [2][3] Group 2 - The Value Score focuses on identifying undervalued stocks using ratios like P/E, PEG, and Price/Sales, appealing to value investors [3] - The Growth Score assesses a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow [4] - The Momentum Score helps investors capitalize on price trends by evaluating short-term price changes and earnings estimate shifts [5] Group 3 - The VGM Score combines the three Style Scores, offering a comprehensive rating based on value, growth, and momentum, making it a strong indicator alongside the Zacks Rank [6] - The Zacks Rank utilizes earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [7][8] Group 4 - To optimize returns, investors should target stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B, while also considering earnings estimate trends [9][10] - RingCentral (RNG) is highlighted as a stock to watch, currently rated 3 (Hold) with a VGM Score of A and a Value Style Score of B, indicating attractive valuation metrics [11][12] - RNG has a forward P/E ratio of 10.25, with 10 analysts raising earnings estimates for fiscal 2024, and a Zacks Consensus Estimate of $3.63 per share, along with an average earnings surprise of 6.4% [12]

RingCentral (RNG) reported non-GAAP earnings of 87 cents per share in first-quarter 2024, surpassing the Zacks Consensus Estimate by 8.75% and increasing 14.5% year over year.Net revenues of $584 million comfortably beat the consensus mark by 1.11% and increased 9.5% year over year. A robust product portfolio and strong subscription revenues drove the upside.Quarter DetailsSoftware subscription (95.4% of total revenues) revenues increased 9.7% year over year to $557.5 million, beating the Zacks Consensus Es ...

Financial Data and Key Metrics Changes - In Q1 2024, total revenue rose 9% to $584 million, exceeding the high end of the outlook [40][133] - Subscription revenue was $557 million, up 10% year-over-year, with ARR increasing to $2.37 billion, also up 10% [40][66] - Free cash flow for Q1 was $77 million, representing over 70% growth compared to $61 million in Q1 2023 [42] - Non-GAAP operating margin rose to approximately 21%, significantly above the guidance for Q1 [50][93] - Stock-based compensation as a percentage of total revenue fell to 15.6%, down 340 basis points year-over-year [94] Business Line Data and Key Metrics Changes - RingCX customer count nearly doubled to over 200, with significant feature additions [33][34] - Enterprise ARR rose 13% year-over-year to $1.02 billion, driven by large customer traction [66] - The company signed its largest UCaaS seat deal ever, selling 40,000 seats to a Fortune 500 retailer [51][52] Market Data and Key Metrics Changes - The company reported strong traction in gold verticals, including healthcare and retail, which are key growth drivers [52][66] - The integration of AI technologies into products is expected to enhance customer experiences and operational efficiencies [30][32] Company Strategy and Development Direction - The company is focusing on innovation, particularly through AI integration across its product offerings [30][32] - A renewed emphasis on customer care is leading to improved gross retention and better NPS scores [55] - The company plans to work closely with Avaya to market and sell Avaya Cloud Office by RingCentral [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the pipeline for the rest of the year, particularly in the Enterprise segment [114] - The macro environment is expected to remain stable, with no significant improvements or deteriorations anticipated [44] - The company raised its free cash flow guidance, reflecting better cash collections and lower commissions [46] Other Important Information - The company repurchased 2.4 million shares for $80 million during the quarter, with an additional $250 million authorized for repurchase [68] - The net leverage ratio declined year-over-year to 2.5 times, indicating improved financial health [69] Q&A Session Summary Question: What is driving the strength in Enterprise ARR? - Management highlighted the strength of their product, ongoing innovation, and the ability to address complex use cases as key factors [75][76] Question: How sustainable is the free cash flow growth rate? - Management indicated that free cash flow is expected to grow 34% this year, with margins expanding significantly [80][82] Question: What is the timeline for winning large deals? - Management noted that large deals typically have a cycle of one to two years, with the recent significant deal taking 18 months [85] Question: How does the pipeline look for the rest of the year? - Management stated that the pipeline is strong, particularly in the Enterprise segment, with a significant greenfield opportunity remaining [114][116] Question: Are there any discounting strategies for upfront billing? - Management clarified that the shift to upfront billing is a mix shift rather than discounting, common in Enterprise contracts [112]