Tue, Aug. 5, 12:23 PM| Comment!
Mon, Aug. 4, 2:21 PM
Wed, Jul. 30, 1:14 PM
- On top of beating Q2 estimates, RingCentral (RNG +18.1%) guided on its CC (transcript) for 2014 revenue of $213M-$216M, above a $209.4M consensus. EPS guidance of -$0.50 to -$0.54 is in-line with a -$0.53 consensus.
- Strong adoption for the RingCentral Office platform (covers VoIP, video, and conferencing services) helped fuel the Q2 beat. The company's monthly recurring subscription revenue run rate rose 9% Q/Q and 38% Y/Y to to $203.7M, with Office's run rate growing 11% Q/Q and 58% Y/Y to $139.2M.
- Gross margin rose 230 bps Y/Y to 63.6%. Heavy sales marketing/spend (46.2% of revenue, up from 42.7% a year ago) continues to pressure EPS. R&D fell to 19% of revenue from 22.2% a year ago, but up in absolute dollars.
- Peer 8x8 (EGHT +3.1%) and software provider BroadSoft (BSFT +2.7%) are following RingCentral higher. All three companies rose last week following 8x8's solid FQ1 report.
Wed, Jul. 30, 12:46 PM
Tue, Jul. 29, 5:41 PM
Tue, Jul. 29, 4:26 PM
Thu, Jul. 24, 2:47 PM
- Following a healthy FQ1, 8x8 (EGHT +10%) expects FY15 (ends March '15) revenue to grow "at least 25%." The company previously guided for FY15 revenue to grow "approximately 25%." Net income is still expected to account for a high-single digit % of revenue.
- Average monthly service revenue per business customer rose to $293 from $287 in FQ4 and $263 a year ago. Notably, churn fell to just 0.4% from 1.2% in both FQ4 and the year-ago period.
- Service revenue rose 29% Y/Y to $34.3M, product revenue rose 32% to $2.8M. A 94% increase in channel/mid-market sales helped fuel the growth.
- GAAP opex rose 42% to $37.4M. Service margin was 80% vs. 79% in FQ4 and 82% a year ago.
- Fellow VoIP/unified communications service providers RingCentral (RNG +4.2%) and Vonage (VG +2.4%) are also rallying, as is software supplier BroadSoft (BSFT +2.8%).
- 8x8's FQ1 results, PR, CC transcript
Tue, Apr. 29, 4:38 PM| Comment!
Mon, Apr. 7, 5:36 PM
Mon, Mar. 17, 9:43 AM
- VMware (VMW +2.2%) has been started at Buy by Monness Crespi.
- SAP (SAP +2.2%) has been upgraded to Buy by Citi.
- VeriSign (VRSN -8.8%) has been cut to Market Perform by Cowen. The downgrade comes as the NTIA announces it will relinquish control of the Internet's domain name management system to an international body. VeriSign insists the move won't affect its operation of the .com and .net registries.
- CommVault (CVLT +3.3%) has been upgraded to Buy by Mizuho.
- RingCentral (RNG +4.5%) has been started at Outperform by William Blair.
- NetScout (NTCT +0.1%) has been cut to Neutral by D.A. Davidson.
- RPX (RPXC +3%) has been started at Outperform by Cowen.
- Cadence (CDNS +1.4%) has been started at Overweight by Piper.
Thu, Feb. 6, 4:21 PM| Comment!
Oct. 22, 2013, 9:57 AM
- Texas Instruments (TXN -2.5%) has been upgraded to Outperform by FBR following its Q3 beat and light Q4 guidance.
- SanDisk (SNDK +0.3%) has been upgraded to Market Perform by BMO a week after beating Q3 estimates and issuing solid guidance.
- AMD (AMD -3%) has been cut to Underperform by Bernstein. If it's any solace to bulls, the firm has been bearish on Intel for a year.
- China Mobile (CHL -0.5%) has been cut to Sell by UBS a day after posting Q3 results (I, II).
- Glu Mobile (GLUU +3.1%) has been started at Outperform by Cowen ahead of its Oct. 30 Q3 report.
- TripAdvisor (TRIP +3.4%) has been started at Outperform by Credit Suisse as part of a coverage launch for online travel names. Q3 results arrive tomorrow.
- RingCentral (RNG +1.1%) has received four bullish ratings, and no neutral/bearish ones, on underwriter coverage day.
Oct. 10, 2013, 11:21 AM
- Fidelity's portfolio of funds have managed to collectively buy a 17.7% stake in RingCentral (RNG +1.3%), which went public just two weeks ago. (13G)
- Shares have been volatile since the IPO. They're down 14% from a high of $19.40, but remain up 28% from an IPO price of $13.
- Fidelity's disclosure comes on a day when Vonage announced it's buying RingCentral peer Vocalocity for $130M. Unlike RingCentral, Vocalocity mostly sells its hosted VoIP services to SMBs with less than 20 employees.
Oct. 4, 2013, 9:52 AM
- ServiceNow (NOW +2.5%) has been upgraded to Outperform by Northland.
- OpenTable (OPEN +1.6%) has been upgraded to Overweight by Piper.
- Portugal Telecom (PT) has been upgraded to Buy by Berenberg a day after getting cut to Neutral by Citi, and two days after announcing plans to merge with Oibr.
- iGate (IGTE -3.1%) has been cut to Neutral by Nomura.
- Acxiom (ACXM -1.1%) has been cut to Underperform by BMO.
- Align Technology (ALGN -3.4%) has been cut to Neutral by Baird.
- NXP (NXPI +0.7%) has been started at Outperform by Pac Crest.
- Sensata (ST +0.9%) has been started at Outperform by Wells Fargo.
- RingCentral (RNG +0.2%), which went public just a week ago, has been started at Outperform by Northland.
Sep. 27, 2013, 10:19 AM
- RingCentral's (RNG) IPO is going better than Violin Memory's. After pricing its 7.5M-share offering at $13 last night, the VoIP/Web conferencing services firm opened at $17.25 and is currently at $18.12, up 39.4%. That's good for a market cap of $1.1B.
- Rival 8x8 (EGHT -1.8%), which had rallied over the last month and closed yesterday near its 52-week high, is selling off a bit today.
Sep. 27, 2013, 12:46 AM| Comment!
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RingCentral Inc., is a provider of software-as-a-service, or SaaS, solutions for business communications. Its solutions can be used in multiple devices including Smartphones, Tablets, PC's and Desk Phones wich allow communication across multiple channels.
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