preloader
Friday, April 12, 2024
Follow us on :

RingCentral's New CFO Appears To Have Solid Handle On Costs - Analysts Say After Q3 Peformance

Needham analyst Ryan Koontz reiterated RingCentral Inc (NYSE: RNG) with a Buy and a $46 price target.

RNG delivered in-line revenue and beat EPS expectations by $0.03, while 4Q guidance was in line. The 3Q adjusted operating margin of 19.1% (+560bp Y/Y) sustained an impressive trend as EBITDA and FCF margins followed suit. 

Koontz modestly increased his CY24 EPS estimates on the higher conviction that RNG benefits from less competitive pressure from struggling smaller players. 

New CFO Sonalee Park appears to have a solid handle on costs, and the analyst is optimistic that new CEO Tarek Robbiati can sustain top-line growth.

The analyst projects Q4 revenue and EPS of $571.7 million and EPS of $0.81.

Mizuho analyst Siti Panigrahi maintained a Buy ...

Full story available on Benzinga.com


Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.


Disclaimer Press Release Banner