Mizuho Securities analyst Siti Panigrahi reiterated a Buy rating on RingCentral (NYSE:RNG) on Wednesday, setting a price target of $400, which is approximately 54.05% above the present share price of $259.66.
Panigrahi expects RingCentral to post earnings per share (EPS) of $0.00 for the third quarter of 2021.
The current consensus among 17 TipRanks analysts is for a Strong Buy rating of shares in RingCentral, with an average price target of $400.8.
The analysts price targets range from a high of $475 to a low of $300.
In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $352.36 million and a net profit of -$42.01 million. The company's market cap is $23.6 billion.
According to TipRanks.com, Mizuho Securities analyst Siti Panigrahi is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 24.2% and a 76.64% success rate.
Founded in 1999, California-based RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company's products include RingCentral Professional, RingCentral Office, RingCentral Glip, and RingCentral Fax.