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Evercore ISI Reaffirms Their Hold Rating on RingCentral (RNG)

Tipranks - Tipranks - Sat Feb 21, 9:08AM CST

Evercore ISI analyst Peter Levine maintained a Hold rating on RingCentral today and set a price target of $30.00.

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According to TipRanks, Levine is a 4-star analyst with an average return of 6.6% and a 46.22% success rate. Levine covers the Technology sector, focusing on stocks such as Palo Alto Networks, Check Point, and Fortinet.

In addition to Evercore ISI, RingCentral also received a Hold from Mizuho Securities’s Siti Panigrahi in a report issued today. However, on the same day, Needham maintained a Buy 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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