Advertisement
Australia markets closed
  • ALL ORDS

    8,118.30
    -1.90 (-0.02%)
     
  • AUD/USD

    0.6658
    -0.0012 (-0.18%)
     
  • ASX 200

    7,848.10
    -3.60 (-0.05%)
     
  • OIL

    77.73
    -0.93 (-1.18%)
     
  • GOLD

    2,418.80
    -7.10 (-0.29%)
     
  • Bitcoin AUD

    105,184.91
    -1,362.90 (-1.28%)
     
  • CMC Crypto 200

    1,499.95
    -26.47 (-1.74%)
     

Ringcentral (RNG) Aids Communication With Giant's Partnership

Ringcentral RNG is expanding its offerings in the realm of enterprise cloud communications through a multi-year partnership with the San Francisco Giants.

As the newest enterprise cloud communication partner, RNG seeks to transform Giants’ business communication infrastructure to increase employee and fan engagement within the organization.

Utilizing Ringcentral’s flagship solutions such as RingEX and Contact Center solution, the Giants anticipates enhanced collaboration among employees, substantial cost savings, and efficiencies and improve the overall fan experience with quicker response times and improved call reliability.

Ringcentral, Inc. Price and Consensus

 

Ringcentral, Inc. Price and Consensus
Ringcentral, Inc. Price and Consensus

Ringcentral, Inc. price-consensus-chart | Ringcentral, Inc. Quote

 

Ringcentral’s Robust Portfolio Aids Prospect

The latest move is in sync with Ringcentral’s focus on leveraging AI-driven solutions to enhance its business communications and customer experiences.

Ringcentral achieved a $1-billion Annual Recurring Revenue (ARR) milestone in the enterprise segment in the fourth quarter of 2023, which indicates substantial growth prospects and strong demand for its solutions.

Further bolstering its enterprise solutions in the same quarter, RNG partnered with Microsoft MSFT to integrate its solutions with Microsoft teams, gaining customer momentum in the United States with major players like Republic Airways.

RNG integrated its calling capabilities with Microsoft Teams, showcasing confidence in the ability to enhance the platform and deliver comprehensive communication solutions.

Ringcentral has also recently announced its collaboration with Brightspeed to launch Brightspeed Voice+ for enterprise customers by integrating Ringcentral’s AI-driven cloud communication for enhanced connectivity and collaborations with integrated messaging, video and voice capabilities.

The success of Ringcentral’s Healthcare solution remains noteworthy, with its consistent 99.999% reliability, new solutions, top-tier security standards and various certifications such as HIPAA and HITRUST. In the past 18 months, it has added more than 500 new healthcare customers across various enterprise segments, showcasing its impact and relevance in the industry.

To solidify its position in healthcare, RNG introduced a unified patient care solution. This solution integrates seamlessly with leading Electronic Health Record (EHR) providers such as Epic, Cerner and AllScripts.

Ringcentral seeks to expand its opportunities and boost its top line through continuous innovation, robust partnerships, and a diverse client base. These factors are expected to drive top-line growth.

For the first quarter of 2024, Ringcentral expects revenues between $575 million and $580 million, indicating year-over-year growth of 8-9%. The Zacks Consensus Estimate for first-quarter revenues is pegged at $577.93 million, indicating 8.29% year-over-year growth.

Earnings are expected to be 79-80 cents per share. The consensus mark for earnings has increased by a penny to 79 cents in the past 30 days.

Zacks Rank & Stocks to Consider

Ringcentral currently has a Zacks Rank #3 (Hold).

RNG’s shares have dropped 4.6% year to date compared with the Zacks Computer & Technology sector's rise of 13.1%.

Some better-ranked stocks in the broader technology sector are NetApp NTAP and NVIDIA NVDA, each sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

NetApp shares have gained 18.9% in the year-to-date period. NTAP’s long-term earnings growth rate is currently projected at 8.79%.

NVIDIA shares have gained 83% in the year-to-date period. NVDA's long-term earnings growth rate is currently projected at 30.93%.

ADVERTISEMENT

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Microsoft Corporation (MSFT) : Free Stock Analysis Report

NetApp, Inc. (NTAP) : Free Stock Analysis Report

NVIDIA Corporation (NVDA) : Free Stock Analysis Report

Ringcentral, Inc. (RNG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research