Needham analyst Ryan Koontz reiterated a Buy rating on RingCentral (NYSE:RNG) on Wednesday, setting a price target of $360, which is approximately 33.38% above the present share price of $269.9.
Koontz expects RingCentral to post earnings per share (EPS) of $0.00 for the third quarter of 2021.
The current consensus among 16 TipRanks analysts is for a Strong Buy rating of shares in RingCentral, with an average price target of $406.69.
The analysts price targets range from a high of $500 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 $24.53 billion.
According to TipRanks.com, Needham analyst Ryan Koontz is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 22.2% and a 62.50% 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.