Intrinsic value of RingCentral Cl A - RNG

Previous Close

$77.06

  Intrinsic Value

$6.68

stock screener

  Rating & Target

str. sell

-91%

Previous close

$77.06

 
Intrinsic value

$6.68

 
Up/down potential

-91%

 
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 0001), $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 5.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  34.10
  31.19
  28.57
  26.21
  24.09
  22.18
  20.46
  18.92
  17.53
  16.27
  15.15
  14.13
  13.22
  12.40
  11.66
  10.99
  10.39
  9.85
  9.37
  8.93
  8.54
  8.18
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
Revenue, $m
  673
  882
  1,134
  1,432
  1,777
  2,171
  2,615
  3,110
  3,655
  4,250
  4,893
  5,585
  6,323
  7,107
  7,936
  8,808
  9,723
  10,681
  11,682
  12,725
  13,811
  14,942
  16,117
  17,339
  18,608
  19,927
  21,298
  22,723
  24,206
  25,748
Variable operating expenses, $m
  676
  887
  1,140
  1,438
  1,785
  2,180
  2,626
  3,123
  3,670
  4,267
  4,912
  5,606
  6,347
  7,134
  7,966
  8,842
  9,760
  10,722
  11,726
  12,774
  13,864
  14,999
  16,179
  17,405
  18,679
  20,003
  21,380
  22,811
  24,298
  25,846
Fixed operating expenses, $m
  26
  26
  27
  27
  28
  28
  29
  30
  30
  31
  32
  32
  33
  34
  35
  35
  36
  37
  38
  39
  39
  40
  41
  42
  43
  44
  45
  46
  47
  48
Total operating expenses, $m
  702
  913
  1,167
  1,465
  1,813
  2,208
  2,655
  3,153
  3,700
  4,298
  4,944
  5,638
  6,380
  7,168
  8,001
  8,877
  9,796
  10,759
  11,764
  12,813
  13,903
  15,039
  16,220
  17,447
  18,722
  20,047
  21,425
  22,857
  24,345
  25,894
Operating income, $m
  -29
  -31
  -32
  -34
  -36
  -38
  -40
  -43
  -46
  -48
  -51
  -54
  -57
  -61
  -65
  -69
  -73
  -78
  -83
  -87
  -92
  -98
  -103
  -109
  -114
  -120
  -127
  -133
  -140
  -147
EBITDA, $m
  -17
  -14
  -12
  -8
  -4
  1
  6
  12
  18
  26
  34
  42
  51
  61
  71
  82
  94
  106
  118
  131
  145
  159
  174
  190
  206
  222
  240
  258
  277
  296
Interest expense (income), $m
  1
  0
  2
  5
  9
  13
  18
  24
  30
  37
  45
  53
  62
  72
  82
  93
  105
  118
  131
  144
  158
  173
  188
  204
  221
  238
  256
  275
  294
  315
  336
Earnings before tax, $m
  -29
  -33
  -38
  -43
  -49
  -56
  -64
  -73
  -82
  -93
  -104
  -116
  -129
  -144
  -159
  -174
  -191
  -208
  -227
  -246
  -265
  -286
  -307
  -330
  -353
  -377
  -402
  -427
  -454
  -482
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
  -33
  -38
  -43
  -49
  -56
  -64
  -73
  -82
  -93
  -104
  -116
  -129
  -144
  -159
  -174
  -191
  -208
  -227
  -246
  -265
  -286
  -307
  -330
  -353
  -377
  -402
  -427
  -454
  -482

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
  407
  534
  687
  867
  1,075
  1,314
  1,583
  1,882
  2,212
  2,572
  2,962
  3,381
  3,828
  4,302
  4,804
  5,332
  5,886
  6,466
  7,071
  7,703
  8,360
  9,045
  9,756
  10,495
  11,264
  12,062
  12,892
  13,755
  14,652
  15,586
Adjusted assets (=assets-cash), $m
  407
  534
  687
  867
  1,075
  1,314
  1,583
  1,882
  2,212
  2,572
  2,962
  3,381
  3,828
  4,302
  4,804
  5,332
  5,886
  6,466
  7,071
  7,703
  8,360
  9,045
  9,756
  10,495
  11,264
  12,062
  12,892
  13,755
  14,652
  15,586
Revenue / Adjusted assets
  1.654
  1.652
  1.651
  1.652
  1.653
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
  1.652
Average production assets, $m
  58
  76
  98
  123
  153
  187
  225
  267
  314
  365
  421
  480
  544
  611
  682
  757
  836
  919
  1,005
  1,094
  1,188
  1,285
  1,386
  1,491
  1,600
  1,714
  1,832
  1,954
  2,082
  2,214
Working capital, $m
  -56
  -73
  -94
  -119
  -147
  -180
  -217
  -258
  -303
  -353
  -406
  -464
  -525
  -590
  -659
  -731
  -807
  -887
  -970
  -1,056
  -1,146
  -1,240
  -1,338
  -1,439
  -1,544
  -1,654
  -1,768
  -1,886
  -2,009
  -2,137
Total debt, $m
  45
  100
  166
  244
  334
  438
  554
  684
  827
  982
  1,151
  1,332
  1,526
  1,731
  1,948
  2,177
  2,417
  2,668
  2,930
  3,204
  3,489
  3,785
  4,093
  4,413
  4,746
  5,092
  5,451
  5,824
  6,213
  6,617
Total liabilities, $m
  176
  231
  297
  375
  466
  569
  685
  815
  958
  1,114
  1,283
  1,464
  1,657
  1,863
  2,080
  2,309
  2,548
  2,800
  3,062
  3,335
  3,620
  3,916
  4,224
  4,545
  4,877
  5,223
  5,582
  5,956
  6,344
  6,749
Total equity, $m
  231
  303
  389
  491
  610
  745
  898
  1,067
  1,254
  1,459
  1,680
  1,917
  2,170
  2,439
  2,724
  3,023
  3,337
  3,666
  4,009
  4,367
  4,740
  5,128
  5,532
  5,951
  6,387
  6,839
  7,310
  7,799
  8,308
  8,837
Total liabilities and equity, $m
  407
  534
  686
  866
  1,076
  1,314
  1,583
  1,882
  2,212
  2,573
  2,963
  3,381
  3,827
  4,302
  4,804
  5,332
  5,885
  6,466
  7,071
  7,702
  8,360
  9,044
  9,756
  10,496
  11,264
  12,062
  12,892
  13,755
  14,652
  15,586
Debt-to-equity ratio
  0.190
  0.330
  0.430
  0.500
  0.550
  0.590
  0.620
  0.640
  0.660
  0.670
  0.690
  0.700
  0.700
  0.710
  0.720
  0.720
  0.720
  0.730
  0.730
  0.730
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.750
  0.750
  0.750
  0.750
Adjusted equity ratio
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -29
  -33
  -38
  -43
  -49
  -56
  -64
  -73
  -82
  -93
  -104
  -116
  -129
  -144
  -159
  -174
  -191
  -208
  -227
  -246
  -265
  -286
  -307
  -330
  -353
  -377
  -402
  -427
  -454
  -482
Depreciation, amort., depletion, $m
  13
  16
  21
  26
  32
  38
  46
  55
  64
  74
  84
  96
  109
  122
  136
  151
  167
  184
  201
  219
  238
  257
  277
  298
  320
  343
  366
  391
  416
  443
Funds from operations, $m
  -17
  -17
  -17
  -17
  -17
  -18
  -18
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -39
Change in working capital, $m
  -14
  -17
  -21
  -25
  -29
  -33
  -37
  -41
  -45
  -49
  -53
  -57
  -61
  -65
  -69
  -72
  -76
  -80
  -83
  -87
  -90
  -94
  -98
  -101
  -105
  -109
  -114
  -118
  -123
  -128
Cash from operations, $m
  -2
  1
  4
  8
  11
  15
  19
  23
  27
  30
  34
  37
  41
  44
  47
  49
  52
  55
  57
  60
  62
  65
  67
  70
  73
  76
  78
  82
  85
  89
Maintenance CAPEX, $m
  -9
  -12
  -15
  -20
  -25
  -31
  -37
  -45
  -53
  -63
  -73
  -84
  -96
  -109
  -122
  -136
  -151
  -167
  -184
  -201
  -219
  -238
  -257
  -277
  -298
  -320
  -343
  -366
  -391
  -416
New CAPEX, $m
  -15
  -18
  -22
  -26
  -30
  -34
  -38
  -43
  -47
  -51
  -55
  -59
  -63
  -67
  -71
  -75
  -79
  -82
  -86
  -90
  -93
  -97
  -101
  -105
  -109
  -113
  -118
  -123
  -127
  -133
Cash from investing activities, $m
  -24
  -30
  -37
  -46
  -55
  -65
  -75
  -88
  -100
  -114
  -128
  -143
  -159
  -176
  -193
  -211
  -230
  -249
  -270
  -291
  -312
  -335
  -358
  -382
  -407
  -433
  -461
  -489
  -518
  -549
Free cash flow, $m
  -26
  -29
  -33
  -37
  -43
  -49
  -56
  -65
  -74
  -84
  -94
  -106
  -119
  -132
  -147
  -162
  -178
  -195
  -212
  -231
  -250
  -270
  -291
  -312
  -335
  -358
  -382
  -407
  -433
  -460
Issuance/(repayment) of debt, $m
  45
  55
  66
  78
  90
  103
  116
  130
  143
  156
  169
  181
  194
  205
  217
  229
  240
  251
  262
  273
  285
  296
  308
  320
  333
  346
  359
  374
  389
  404
Issuance/(repurchase) of shares, $m
  88
  105
  124
  145
  167
  191
  216
  242
  270
  297
  325
  353
  383
  413
  443
  474
  505
  537
  570
  604
  638
  674
  711
  749
  788
  829
  872
  917
  963
  1,012
Cash from financing (excl. dividends), $m  
  133
  160
  190
  223
  257
  294
  332
  372
  413
  453
  494
  534
  577
  618
  660
  703
  745
  788
  832
  877
  923
  970
  1,019
  1,069
  1,121
  1,175
  1,231
  1,291
  1,352
  1,416
Total cash flow (excl. dividends), $m
  107
  131
  157
  185
  215
  245
  276
  308
  339
  370
  399
  428
  457
  486
  513
  540
  567
  594
  620
  646
  673
  700
  728
  757
  786
  817
  849
  883
  918
  955
Retained Cash Flow (-), $m
  -88
  -105
  -124
  -145
  -167
  -191
  -216
  -242
  -270
  -297
  -325
  -353
  -383
  -413
  -443
  -474
  -505
  -537
  -570
  -604
  -638
  -674
  -711
  -749
  -788
  -829
  -872
  -917
  -963
  -1,012
Prev. year cash balance distribution, $m
  56
  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
  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
Cash available for distribution, $m
  75
  26
  33
  40
  47
  54
  60
  65
  69
  72
  74
  75
  75
  73
  70
  67
  62
  56
  50
  43
  35
  26
  17
  8
  -2
  -12
  -23
  -34
  -45
  -56
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
  72
  24
  29
  33
  37
  39
  41
  41
  40
  38
  35
  32
  28
  25
  21
  17
  13
  10
  8
  5
  4
  2
  1
  0
  0
  0
  0
  -1
  0
  0
Current shareholders' claim on cash, %
  95.2
  91.0
  87.4
  84.3
  81.5
  79.0
  76.8
  74.8
  73.0
  71.3
  69.7
  68.3
  66.9
  65.7
  64.5
  63.4
  62.4
  61.4
  60.4
  59.5
  58.7
  57.9
  57.1
  56.3
  55.6
  54.9
  54.2
  53.5
  52.9
  52.2

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 -197.6
Price to Sales 15.1
Price to Book 44.1
Price to Tangible Book
Price to Cash Flow 191.1
Price to Free Cash Flow 409.4
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 $501.526 million for the last fiscal year's total revenue generated by RingCentral Cl A. The default revenue input number comes from 0001 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 34.1% 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 100.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $25 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 0%.

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 8.6%.

Life of production assets of 3 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 -8.3%. 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 - $228.346 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 67.837 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 $5.2 billion.

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COMPANY NEWS

▶ RingCentral: 3Q Earnings Snapshot   [04:14PM  Associated Press]
▶ Analysts think these Bay Area deals could follow Red Hat's $34 billion sale to IBM   [Oct-30-18 05:24PM  American City Business Journals]
▶ Bull of the Day: RingCentral   [06:45AM  Zacks]
▶ Why Cloud Communications Stocks Soared in August   [Sep-06-18 03:24PM  Motley Fool]
▶ AT&T and RingCentral Continue to Play Nice   [Sep-05-18 03:16PM  Motley Fool]
▶ RingCentral to Participate in Upcoming Investor Conferences   [Aug-30-18 08:00AM  Business Wire]
▶ Which Stocks Make This List Of The Fastest-Growing Companies?   [Aug-20-18 04:05PM  Investor's Business Daily]
▶ 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.]

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