RingCentral Analysts Slash Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
RingCentral, Inc. (NYSE:RNG) reported Q4 earnings above market estimates but provided weaker than expected guidance for Q1 and FY24, leading to analysts adjusting their price targets. Despite the weak guidance, RingCentral highlighted record operating margin and free cash flow for the quarter.
February 21, 2024 | 7:12 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
RingCentral reported higher than expected Q4 earnings but issued weaker Q1 and FY24 guidance, causing analysts to adjust their price targets.
Despite beating Q4 earnings estimates, RingCentral's weaker than expected guidance for Q1 and FY24 could negatively impact investor sentiment and stock price in the short term. Analysts' revised price targets reflect concerns over future growth, potentially leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100