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RingCentral (RNG) Receives a Buy from Rosenblatt Securities

Tipranks - Tipranks - Sat Feb 21, 6:29AM CST

Rosenblatt Securities analyst Catharine Trebnick reiterated a Buy rating on RingCentral today and set a price target of $37.50.

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Trebnick covers the Technology sector, focusing on stocks such as Fortinet, Twilio, and Palo Alto Networks. According to TipRanks, Trebnick has an average return of -6.2% and a 38.89% success rate on recommended stocks.

In addition to Rosenblatt Securities, RingCentral also received a Buy from Needham’s Joshua Reilly in a report issued today. However, on the same day, UBS maintained a Hold rating on RingCentral (NYSE: RNG).

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Based on RingCentral’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $638.66 million and a net profit of $17.56 million. In comparison, last year the company earned a revenue of $608.77 million and had a GAAP net loss of $7.85 million

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