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RingCentral (RNG) Receives a Hold from Robert W. Baird

Robert W. Baird analyst William Power maintained a Hold rating on RingCentral (RNGResearch Report) on November 10 and set a price target of $36.00. The company’s shares closed last Friday at $40.12.

According to TipRanks, Power is a 5-star analyst with an average return of 15.8% and a 55.61% success rate. Power covers the Technology sector, focusing on stocks such as Axon Enterprise, Zoom Video Communications, and Datadog.

In addition to Robert W. Baird, RingCentral also received a Hold from Needham’s Ryan Koontz in a report issued on November 10. However, on November 11, MKM Partners maintained a Buy rating on RingCentral (NYSE: RNG).

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Based on RingCentral’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $486.9 million and a GAAP net loss of $159.52 million. In comparison, last year the company earned a revenue of $379.27 million and had a GAAP net loss of $110.96 million

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Founded in 1999, California-based RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company’s products include RingCentral Professional, RingCentral Office, RingCentral Glip, and RingCentral Fax.

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