RingCentral's New CFO Appears To Have Solid Handle On Costs - Analysts Say After Q3 Peformance
Portfolio Pulse from Anusuya Lahiri
RingCentral Inc (RNG) delivered in-line revenue and beat EPS expectations in Q3, with a 19.1% adjusted operating margin. Analysts have increased their EPS estimates for RNG due to less competitive pressure from struggling smaller players. New CFO Sonalee Park is praised for her handle on costs, and optimism is expressed for new CEO Tarek Robbiati's ability to sustain top-line growth. However, concerns remain about top-line slowdown, NRR weakness, and competition impacting enterprise sales. RNG's partnership with Amazon (AMZN) is still in early stages.
November 07, 2023 | 8:40 pm
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NEUTRAL IMPACT
Amazon's partnership with RingCentral is still in early stages, and its impact on the company's performance is yet to be seen.
Amazon's partnership with RingCentral is mentioned, but it's still in early stages and its impact on Amazon's performance is unclear at this point.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 20
NEUTRAL IMPACT
RingCentral beat Q3 EPS expectations and showed strong cost management under new CFO. However, concerns about top-line slowdown and competition could impact future performance.
RingCentral's strong Q3 performance and cost management under new CFO are positive signs. However, concerns about top-line slowdown and competition could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100