Rosenblatt Securities analyst Ryan Koontz reiterated a Buy rating on RingCentral (NYSE:RNG) on Wednesday, setting a price target of $500, which is approximately 74.37% above the present share price of $286.75.
Koontz expects RingCentral to post earnings per share (EPS) of -$0.02 for the first quarter of 2021.
The current consensus among 22 TipRanks analysts is for a Strong Buy rating of shares in RingCentral, with an average price target of $481.53.
The analysts price targets range from a high of $535 to a low of $410.
In its latest earnings report, released on 12/31/2020, the company reported a quarterly revenue of $334.54 million and a net profit of -$28.74 million. The company's market cap is $25.95 billion.
According to TipRanks.com, Rosenblatt Securities analyst Ryan Koontz is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 20.8% and a 63.11% 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.