{"id":6939,"date":"2023-05-10T18:39:22","date_gmt":"2023-05-10T22:39:22","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/ringcentral-stock-adds-9-after-a-clean-beat-and-raise-quarter\/"},"modified":"2023-05-10T18:39:22","modified_gmt":"2023-05-10T22:39:22","slug":"ringcentral-stock-adds-9-after-a-clean-beat-and-raise-quarter","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=6939","title":{"rendered":"RingCentral stock adds 9% after a ‘clean beat-and-raise’ quarter"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook<\/span>
\n<\/i>\n<\/div>\n

RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after the company reported , with EPS of $0.76 coming in better than the consensus estimate of $0.69.<\/p>\n

Revenue grew 14% year-over-year to $534 million, beating the consensus estimate of $527.98M. Subscriptions revenue increased 16% year-over-year to $508M, accounting for 95% of total revenue. Annualized exit monthly recurring subscriptions (ARR) rose 14% year-over-year to $2.16 billion. Mid-market and Enterprise ARR grew 15% year-over-year to $1.33B.<\/p>\n

For Q2\/23, the company expects EPS in the range of $0.74-$0.76, compared to the consensus of $0.73, and revenue of $535-537M, compared to the consensus of $535.9M.<\/p>\n

For the full year, the company expects EPS in the range of $3.19-$3.25, compared to the consensus of $3.08, and revenue of $2.187-2.205B, compared to the consensus of $2.19B.<\/p>\n

Morgan Stanley analysts said RNG “outperformed slightly in Q1.” They cut the price target by $5 to $45 per share.<\/p>\n

“Net ARR was slightly ahead of expectation and strong operating discipline. Company has been effective on improving churn, helping buoy growth as macro provides an overhang. Profitability potential keeps us OW,” the analysts wrote in a note.<\/p>\n

UBS analysts raised the target to $32 per share but remains Neutral-rated despite the “clean beat and raise” quarter.<\/p>\n

“RNG shares are down ~5% over the last 2 weeks, which we suspect is largely driven by AI threat concerns, and similar to FIVN last week, we wonder if this might serve as an overhang on the stock\/ overshadow the solid print near-term. RNG highlighted its RingSense AI platform on the call, but we question how competitive its conversational intelligence sales use case might be relative to other established players in the space like Gong and Chorus,” the analysts said.<\/p>\n

Additional Reporting by Senad Karaahmetovic<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after the company reported , with EPS of $0.76 coming in better than the consensus estimate of $0.69. Revenue grew 14% year-over-year to $534 million, beating the consensus estimate of $527.98M. Subscriptions […]<\/p>\n","protected":false},"author":1,"featured_media":1983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-6939","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nRingCentral stock adds 9% after a 'clean beat-and-raise' quarter | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=6939\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RingCentral stock adds 9% after a 'clean beat-and-raise' quarter | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=6939\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-10T22:39:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/fa8a2f803ea2ddf92359d55091dcde0a_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=6939#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=6939\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"RingCentral stock adds 9% after a ‘clean beat-and-raise’ quarter\",\"datePublished\":\"2023-05-10T22:39:22+00:00\",\"dateModified\":\"2023-05-10T22:39:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=6939\"},\"wordCount\":300,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=6939#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=6939\",\"url\":\"https:\/\/ifintechworld.com\/?p=6939\",\"name\":\"RingCentral stock adds 9% after a 'clean beat-and-raise' quarter | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-10T22:39:22+00:00\",\"dateModified\":\"2023-05-10T22:39:22+00:00\",\"description\":\"\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=6939#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=6939\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=6939#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RingCentral stock adds 9% after a ‘clean beat-and-raise’ quarter\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"RingCentral stock adds 9% after a 'clean beat-and-raise' quarter | iFintechWorld","description":"\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=6939","og_locale":"en_US","og_type":"article","og_title":"RingCentral stock adds 9% after a 'clean beat-and-raise' quarter | iFintechWorld","og_description":"\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after","og_url":"https:\/\/ifintechworld.com\/?p=6939","og_site_name":"iFintechWorld","article_published_time":"2023-05-10T22:39:22+00:00","og_image":[{"width":600,"height":400,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/fa8a2f803ea2ddf92359d55091dcde0a_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=6939#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=6939"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"RingCentral stock adds 9% after a ‘clean beat-and-raise’ quarter","datePublished":"2023-05-10T22:39:22+00:00","dateModified":"2023-05-10T22:39:22+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=6939"},"wordCount":300,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=6939#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=6939","url":"https:\/\/ifintechworld.com\/?p=6939","name":"RingCentral stock adds 9% after a 'clean beat-and-raise' quarter | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-10T22:39:22+00:00","dateModified":"2023-05-10T22:39:22+00:00","description":"\u00a9 Reuters. RingCentral stock surges 9% on Q1 beat & raised outlook RingCentral, Inc. (NYSE:) shares soared more than 9% in pre-market Wednesday after","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=6939#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=6939"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=6939#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"RingCentral stock adds 9% after a ‘clean beat-and-raise’ quarter"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/6939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6939"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/6939\/revisions"}],"predecessor-version":[{"id":6940,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/6939\/revisions\/6940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1983"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}