Intrinsic value of RingCentral Cl A - RNG

Previous Close

$89.10

  Intrinsic Value

$0.53

stock screener

  Rating & Target

str. sell

-99%

Previous close

$89.10

 
Intrinsic value

$0.53

 
Up/down potential

-99%

 
Rating

str. sell

We calculate the intrinsic value of RNG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 6.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  32.10
  29.39
  26.95
  24.76
  22.78
  21.00
  19.40
  17.96
  16.67
  15.50
  14.45
  13.50
  12.65
  11.89
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.29
  7.97
  7.67
  7.40
  7.16
  6.95
  6.75
  6.58
  6.42
  6.28
Revenue, $m
  663
  858
  1,089
  1,359
  1,669
  2,019
  2,411
  2,844
  3,318
  3,832
  4,385
  4,978
  5,608
  6,274
  6,977
  7,715
  8,488
  9,296
  10,139
  11,017
  11,931
  12,881
  13,869
  14,896
  15,963
  17,071
  18,224
  19,422
  20,669
  21,966
Variable operating expenses, $m
  670
  867
  1,100
  1,372
  1,684
  2,038
  2,433
  2,870
  3,348
  3,867
  4,424
  5,022
  5,657
  6,329
  7,038
  7,783
  8,563
  9,378
  10,228
  11,114
  12,036
  12,995
  13,992
  15,027
  16,103
  17,222
  18,384
  19,593
  20,851
  22,160
Fixed operating expenses, $m
  22
  23
  23
  24
  25
  25
  26
  26
  27
  27
  28
  29
  29
  30
  30
  31
  32
  33
  33
  34
  35
  36
  36
  37
  38
  39
  40
  40
  41
  42
Total operating expenses, $m
  692
  890
  1,123
  1,396
  1,709
  2,063
  2,459
  2,896
  3,375
  3,894
  4,452
  5,051
  5,686
  6,359
  7,068
  7,814
  8,595
  9,411
  10,261
  11,148
  12,071
  13,031
  14,028
  15,064
  16,141
  17,261
  18,424
  19,633
  20,892
  22,202
Operating income, $m
  -29
  -32
  -34
  -37
  -40
  -44
  -48
  -52
  -57
  -62
  -67
  -72
  -79
  -85
  -92
  -99
  -107
  -114
  -123
  -131
  -140
  -149
  -158
  -168
  -179
  -189
  -200
  -212
  -223
  -236
EBITDA, $m
  -22
  -22
  -23
  -23
  -23
  -23
  -23
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -24
  -23
  -23
  -23
  -23
Interest expense (income), $m
  1
  0
  2
  5
  8
  12
  17
  22
  27
  33
  40
  48
  56
  64
  73
  83
  93
  103
  114
  126
  138
  150
  163
  177
  191
  206
  221
  237
  253
  271
  288
Earnings before tax, $m
  -29
  -34
  -39
  -45
  -53
  -61
  -70
  -80
  -91
  -102
  -114
  -128
  -143
  -158
  -174
  -192
  -210
  -229
  -248
  -269
  -290
  -312
  -336
  -359
  -384
  -410
  -437
  -465
  -494
  -524
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -29
  -34
  -39
  -45
  -53
  -61
  -70
  -80
  -91
  -102
  -114
  -128
  -143
  -158
  -174
  -192
  -210
  -229
  -248
  -269
  -290
  -312
  -336
  -359
  -384
  -410
  -437
  -465
  -494
  -524

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  331
  429
  544
  679
  834
  1,009
  1,205
  1,421
  1,658
  1,915
  2,192
  2,488
  2,802
  3,136
  3,487
  3,856
  4,242
  4,646
  5,067
  5,506
  5,963
  6,438
  6,931
  7,444
  7,977
  8,531
  9,107
  9,706
  10,329
  10,978
Adjusted assets (=assets-cash), $m
  331
  429
  544
  679
  834
  1,009
  1,205
  1,421
  1,658
  1,915
  2,192
  2,488
  2,802
  3,136
  3,487
  3,856
  4,242
  4,646
  5,067
  5,506
  5,963
  6,438
  6,931
  7,444
  7,977
  8,531
  9,107
  9,706
  10,329
  10,978
Revenue / Adjusted assets
  2.003
  2.000
  2.002
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.000
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
  2.001
Average production assets, $m
  64
  83
  106
  132
  162
  196
  234
  276
  322
  372
  425
  483
  544
  609
  677
  748
  823
  902
  983
  1,069
  1,157
  1,250
  1,345
  1,445
  1,548
  1,656
  1,768
  1,884
  2,005
  2,131
Working capital, $m
  -10
  -13
  -16
  -20
  -25
  -30
  -36
  -43
  -50
  -57
  -66
  -75
  -84
  -94
  -105
  -116
  -127
  -139
  -152
  -165
  -179
  -193
  -208
  -223
  -239
  -256
  -273
  -291
  -310
  -329
Total debt, $m
  42
  94
  155
  227
  309
  402
  505
  620
  746
  882
  1,028
  1,185
  1,352
  1,529
  1,715
  1,910
  2,115
  2,329
  2,552
  2,785
  3,027
  3,279
  3,540
  3,812
  4,095
  4,388
  4,694
  5,011
  5,341
  5,685
Total liabilities, $m
  176
  227
  289
  360
  442
  535
  639
  753
  879
  1,015
  1,162
  1,318
  1,485
  1,662
  1,848
  2,043
  2,248
  2,462
  2,686
  2,918
  3,160
  3,412
  3,674
  3,945
  4,228
  4,522
  4,827
  5,144
  5,475
  5,818
Total equity, $m
  156
  202
  256
  319
  392
  474
  566
  668
  779
  900
  1,030
  1,169
  1,317
  1,474
  1,639
  1,812
  1,994
  2,184
  2,382
  2,588
  2,802
  3,026
  3,258
  3,499
  3,749
  4,010
  4,280
  4,562
  4,855
  5,159
Total liabilities and equity, $m
  332
  429
  545
  679
  834
  1,009
  1,205
  1,421
  1,658
  1,915
  2,192
  2,487
  2,802
  3,136
  3,487
  3,855
  4,242
  4,646
  5,068
  5,506
  5,962
  6,438
  6,932
  7,444
  7,977
  8,532
  9,107
  9,706
  10,330
  10,977
Debt-to-equity ratio
  0.270
  0.470
  0.610
  0.710
  0.790
  0.850
  0.890
  0.930
  0.960
  0.980
  1.000
  1.010
  1.030
  1.040
  1.050
  1.050
  1.060
  1.070
  1.070
  1.080
  1.080
  1.080
  1.090
  1.090
  1.090
  1.090
  1.100
  1.100
  1.100
  1.100
Adjusted equity ratio
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -29
  -34
  -39
  -45
  -53
  -61
  -70
  -80
  -91
  -102
  -114
  -128
  -143
  -158
  -174
  -192
  -210
  -229
  -248
  -269
  -290
  -312
  -336
  -359
  -384
  -410
  -437
  -465
  -494
  -524
Depreciation, amort., depletion, $m
  8
  9
  12
  14
  17
  21
  24
  29
  33
  38
  43
  48
  54
  61
  68
  75
  82
  90
  98
  107
  116
  125
  135
  144
  155
  166
  177
  188
  200
  213
Funds from operations, $m
  -22
  -25
  -28
  -31
  -35
  -40
  -45
  -51
  -57
  -64
  -72
  -80
  -88
  -97
  -107
  -117
  -127
  -138
  -150
  -162
  -174
  -187
  -201
  -215
  -230
  -245
  -260
  -277
  -294
  -311
Change in working capital, $m
  -2
  -3
  -3
  -4
  -5
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -19
Cash from operations, $m
  -19
  -22
  -24
  -27
  -31
  -35
  -39
  -44
  -50
  -56
  -63
  -71
  -79
  -87
  -96
  -106
  -116
  -126
  -137
  -149
  -161
  -173
  -186
  -200
  -214
  -228
  -243
  -259
  -275
  -292
Maintenance CAPEX, $m
  -5
  -6
  -8
  -11
  -13
  -16
  -20
  -23
  -28
  -32
  -37
  -43
  -48
  -54
  -61
  -68
  -75
  -82
  -90
  -98
  -107
  -116
  -125
  -135
  -144
  -155
  -166
  -177
  -188
  -200
New CAPEX, $m
  -15
  -19
  -22
  -26
  -30
  -34
  -38
  -42
  -46
  -50
  -54
  -57
  -61
  -65
  -68
  -72
  -75
  -78
  -82
  -85
  -89
  -92
  -96
  -100
  -103
  -108
  -112
  -116
  -121
  -126
Cash from investing activities, $m
  -20
  -25
  -30
  -37
  -43
  -50
  -58
  -65
  -74
  -82
  -91
  -100
  -109
  -119
  -129
  -140
  -150
  -160
  -172
  -183
  -196
  -208
  -221
  -235
  -247
  -263
  -278
  -293
  -309
  -326
Free cash flow, $m
  -40
  -47
  -55
  -64
  -74
  -85
  -97
  -110
  -124
  -139
  -154
  -171
  -188
  -206
  -225
  -245
  -266
  -287
  -309
  -332
  -356
  -381
  -407
  -434
  -462
  -490
  -520
  -552
  -584
  -618
Issuance/(repayment) of debt, $m
  42
  52
  61
  71
  82
  93
  104
  115
  126
  136
  147
  157
  167
  177
  186
  196
  205
  214
  223
  233
  242
  252
  262
  272
  283
  294
  305
  317
  330
  344
Issuance/(repurchase) of shares, $m
  68
  80
  94
  109
  125
  143
  162
  181
  202
  223
  244
  267
  291
  315
  340
  365
  391
  418
  446
  475
  505
  536
  568
  601
  635
  671
  708
  746
  787
  829
Cash from financing (excl. dividends), $m  
  110
  132
  155
  180
  207
  236
  266
  296
  328
  359
  391
  424
  458
  492
  526
  561
  596
  632
  669
  708
  747
  788
  830
  873
  918
  965
  1,013
  1,063
  1,117
  1,173
Total cash flow (excl. dividends), $m
  71
  84
  100
  116
  133
  151
  169
  186
  204
  221
  237
  253
  269
  285
  300
  316
  330
  345
  360
  375
  391
  406
  422
  439
  456
  474
  493
  512
  533
  555
Retained Cash Flow (-), $m
  -68
  -80
  -94
  -109
  -125
  -143
  -162
  -181
  -202
  -223
  -244
  -267
  -291
  -315
  -340
  -365
  -391
  -418
  -446
  -475
  -505
  -536
  -568
  -601
  -635
  -671
  -708
  -746
  -787
  -829
Prev. year cash balance distribution, $m
  54
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  42
  56
  72
  92
  114
  140
  170
  202
  239
  279
  322
  368
  418
  471
  527
  586
  648
  713
  781
  852
  925
  1,002
  1,082
  1,165
  1,251
  1,341
  1,434
  1,531
  1,631
  1,736
Cash available for distribution, $m
  57
  5
  6
  8
  8
  8
  7
  5
  2
  -2
  -8
  -14
  -21
  -30
  -39
  -50
  -61
  -73
  -86
  -100
  -114
  -129
  -145
  -162
  -179
  -197
  -215
  -234
  -254
  -274
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  55
  4
  6
  6
  6
  6
  5
  3
  1
  -1
  -4
  -6
  -8
  -10
  -12
  -13
  -13
  -13
  -13
  -13
  -12
  -11
  -10
  -8
  -7
  -6
  -5
  -4
  -3
  -2
Current shareholders' claim on cash, %
  94.6
  90.0
  86.0
  82.5
  79.3
  76.5
  74.0
  71.7
  69.6
  67.7
  65.9
  64.2
  62.7
  61.2
  59.8
  58.5
  57.3
  56.1
  55.0
  53.9
  52.9
  51.9
  50.9
  50.0
  49.1
  48.3
  47.4
  46.6
  45.8
  45.0

RingCentral, Inc. is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company's cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax. The Company's products include RingCentral Office, RingCentral Professional, RingCentral Fax, RingCentral Contact Center and RingCentral Glip. RingCentral Office is a multi-user, enterprise-grade communications solution. RingCentral Professional is an inbound call routing subscription with additional text and fax capabilities targeting smaller deployments, and RingCentral Fax is an Internet fax subscription that permits sending and receiving faxes over the Internet.

FINANCIAL RATIOS  of  RingCentral Cl A (RNG)

Valuation Ratios
P/E Ratio -228.5
Price to Sales 17.4
Price to Book 51
Price to Tangible Book
Price to Cash Flow 220.9
Price to Free Cash Flow 473.4
Growth Rates
Sales Growth Rate 28.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -5.9%
Cap. Spend. - 3 Yr. Gr. Rate 7.8%
Financial Strength
Quick Ratio 11
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 11.5%
Interest Coverage -28
Management Effectiveness
Return On Assets -12%
Ret/ On Assets - 3 Yr. Avg. -18.4%
Return On Total Capital -21.2%
Ret/ On T. Cap. - 3 Yr. Avg. -29.9%
Return On Equity -24.2%
Return On Equity - 3 Yr. Avg. -38.2%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 75.8%
Gross Margin - 3 Yr. Avg. 70.5%
EBITDA Margin -3.4%
EBITDA Margin - 3 Yr. Avg. -8.8%
Operating Margin -6.8%
Oper. Margin - 3 Yr. Avg. -12.6%
Pre-Tax Margin -7.6%
Pre-Tax Margin - 3 Yr. Avg. -13.5%
Net Profit Margin -7.6%
Net Profit Margin - 3 Yr. Avg. -13.4%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 1%
Payout Ratio 0%

RNG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RNG stock intrinsic value calculation we used $502 million for the last fiscal year's total revenue generated by RingCentral Cl A. The default revenue input number comes from 2017 income statement of RingCentral Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RNG stock valuation model: a) initial revenue growth rate of 32.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for RNG is calculated based on our internal credit rating of RingCentral Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of RingCentral Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RNG stock the variable cost ratio is equal to 101.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $22 million in the base year in the intrinsic value calculation for RNG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for RingCentral Cl A.

Corporate tax rate of 27% is the nominal tax rate for RingCentral Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RNG stock is equal to 8.4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RNG are equal to 9.7%.

Life of production assets of 10 years is the average useful life of capital assets used in RingCentral Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RNG is equal to -1.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $172 million for RingCentral Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 76 million for RingCentral Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of RingCentral Cl A at the current share price and the inputted number of shares is $6.8 billion.

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COMPANY NEWS

▶ RingCentral Stock Is Making the Right Connections   [Aug-13-18 11:00AM  Motley Fool]
▶ RingCentral Stock Pops As Revenue Beats On Large Contract Growth   [Aug-07-18 05:01PM  Investor's Business Daily]
▶ RingCentral: 2Q Earnings Snapshot   [04:11PM  Associated Press]
▶ Move Aside, Apple: These 4 Hot Software Stocks Are In Or Near Buy Range   [Jul-23-18 04:02PM  Investor's Business Daily]
▶ S&P 500 Clears Resistance; EU, Japan Reach Free-Trade Deal   [Jul-17-18 04:13PM  Investor's Business Daily]
▶ Survey: Women Crush Men at Workplace Multitasking   [Jun-07-18 08:00AM  Business Wire]
▶ George Soros-backed fund buys $35M in Tesla bonds, ups stakes in Alphabet and Netflix   [May-16-18 10:12AM  American City Business Journals]
▶ RingCentral Earnings, Revenue Top Estimates On Enterprise Growth   [May-09-18 05:01PM  Investor's Business Daily]
▶ RingCentral: 1Q Earnings Snapshot   [04:39PM  Associated Press]
▶ What Is RingCentral Incs (NYSE:RNG) Share Price Doing?   [Mar-01-18 01:07PM  Simply Wall St.]
▶ Indexes Extend Win Streaks; One FANG Name Shines, Another Lags   [Feb-13-18 04:20PM  Investor's Business Daily]
▶ RingCentral reports 4Q loss   [04:19PM  Associated Press]
▶ This Amazon Partner And Cisco Rival Just Entered New Buy Zone   [Jan-12-18 04:02PM  Investor's Business Daily]
▶ When Swing Trades Stop Trending, Move On To The Next Stock   [Dec-22-17 03:58PM  Investor's Business Daily]
▶ Top-Rated Stocks: RingCentral Sees Composite Rating Climb To 96   [Dec-11-17 03:00AM  Investor's Business Daily]
▶ Twilio Inc Is a Good for the Short Term, But Thats It   [Nov-21-17 10:33AM  InvestorPlace]
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