RingCentral and Mitel Announce Strategic Partnership to Enable Customers to Transition Seamlessly to Cloud-Based Unified Business Communications

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Go back to RingCentral and Mitel Announce Strategic Partnership to Enable Customers to Transition Seamlessly to Cloud-Based Unified Business Communications

RingCentral (RNG) Stock Explodes 25% on Strong Q3 Results and Mitel Partnership, Analysts Raise Numbers

November 10, 2021 7:58 AM EST

Shares of RingCentral (NASDAQ: RNG) are up 25% in pre-open Wednesday after the company reported strong Q3 results.

RingCentral reported Q3 EPS of $0.36 to easily top the analyst estimate of $0.33. Revenue for the quarter came in at $415 million versus the consensus estimate of $393.42 million.

Third quarter results were outstanding, with accelerating growth driven by ramping contributions from our key partners and momentum from our upmarket customers, said Vlad Shmunis, RingCentrals founder, chairman and CEO.

For this quarter, RingCentral is calling for... More

RingCentral (RNG) PT Raised to $400 at Needham & Company on Blowout Quarter

November 10, 2021 6:58 AM EST

Needham & Company analyst Ryan Koontz raised the price target on RingCentral (NYSE: RNG) to $400.00 (from $360.00) while maintaining a Buy rating.

The analyst commented, "RNG delivered a terrific 3Q21, beating consensus revenue and EPS (by +5%/+$0.03) and guiding 4Q21 3% ahead of consensus. Thwarting... More