Cloud communications provider RingCentral (NYSE: RNG) will be reporting results this Thursday after market hours. Here’s what you need to know.
RingCentral met analysts’ revenue expectations last quarter, reporting revenues of $644.2 million, up 5.3% year on year. It was a mixed quarter for the company, with full-year EPS guidance beating analysts’ expectations but a miss of analysts’ billings estimates.
Is RingCentral a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting RingCentral’s revenue to grow 4.9% year on year, in line with the 4.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. RingCentral has a history of exceeding Wall Street’s expectations.
Looking at RingCentral’s peers in the productivity software segment, only Pegasystems has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 9.4%.
Read our full analysis of Pegasystems’s earnings results here.There has been positive sentiment among investors in the productivity software segment, with share prices up 14.8% on average over the last month. RingCentral is up 16% during the same time and is heading into earnings with an average analyst price target of $44.71 (compared to the current share price of $40.42).
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