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 ...

Core Insights - RingCentral reported revenue of $592.91 million for the quarter ended June 2024, reflecting a year-over-year increase of 9.9% and surpassing the Zacks Consensus Estimate of $586.28 million by 1.13% [1] - The company's EPS for the quarter was $0.91, up from $0.83 in the same quarter last year, exceeding the consensus EPS estimate of $0.88 by 3.41% [1] Financial Performance Metrics - Gross Margin for Subscriptions was reported at 80.9%, slightly below the estimated 81.8% by analysts [3] - Gross Margin for Other revenues was -2.5%, significantly lower than the average estimate of 5.3% [4] - Annualized Exit Monthly Recurring Subscriptions (ARR) reached $2.43 billion, exceeding the estimated $2.41 billion [5] - Revenues from Other sources were $25.85 million, below the estimated $26.38 million, with a year-over-year change of 0.7% [6] - Subscription Revenues amounted to $567.06 million, surpassing the estimated $559.92 million, marking a year-over-year increase of 10.4% [7] Stock Performance - Over the past month, RingCentral's shares have returned +22.7%, significantly outperforming the Zacks S&P 500 composite's +1.1% change [7] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [7]

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]