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RingCentral (RNG) Aids Communication Portfolio With Optus Loop
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RingCentral (RNG - Free Report) expanded its offerings in the Australian market through its recent partnership with Singtel Optus Pty Limited (Optus).
The collaboration resulted in the launch of a co-branded, all-in-one, cost-effective and portable cloud-based phone solution known as Optus Loop with RingCentral.
Leveraging RingCentral's robust and secure communication platform, this solution caters to businesses of all sizes in Australia, offering an agile and cost-effective cloud-based communication solution.
With Optus Loop with RingCentral, businesses can enhance collaboration and communication among their employees, customers and suppliers, regardless of their location or the device they use, enabling seamless connectivity and productivity.
RingCentral continues to demonstrate its commitment to advancing cloud-based communication solutions, with a focus on improving accessibility and collaboration for businesses of all sizes in Australia.
In the fourth quarter, RNG partnered with Microsoft (MSFT - Free Report) to bolster its Enterprise solutions by integrating it with Microsoft Teams, gaining customer momentum in the United States with major players like Republic Airways.
RNG integrated its calling capabilities with Microsoft Teams, showcasing confidence in the ability to enhance the platform and deliver comprehensive communication solutions.
In the same quarter, RingCentral also announced the global availability of RingCentral Events, an immersive solution for virtual, onsite, and hybrid events, formerly known as Hopin Events, enhancing engagement and customization for businesses worldwide.
The success of RingCentral's Healthcare solution is noteworthy, with its consistent 99.999% reliability, innovative products and top-tier security standards. In the past 18 months, it has acquired more than 500 new healthcare customers across various enterprise segments, showcasing its impact and relevance in the industry.
To solidify its position in healthcare, RNG introduced a unified patient care solution. This solution integrates seamlessly with leading Electronic Health Record (EHR) providers such as Epic, Cerner and AllScripts.
Additionally, a partnership with SpinSci leverages RingCentral's AI-powered communications suite to enhance patient engagement, streamline workflows and ensure secure and efficient experiences in healthcare organizations worldwide.
RingCentral aims to extend its opportunities and boost its top line through constant innovation, robust partnerships, and a broad client base. These factors are expected to drive top-line growth.
For the first quarter of 2024, RingCentral expects revenues between $575 million and $580 million, indicating year-over-year growth of 8-9%. The Zacks Consensus Estimate for first-quarter revenues is pegged at $577.93 million, indicating 8.29% year-over-year growth.
Earnings are expected to be 79-80 cents per share. The consensus mark for earnings has increased by a penny to 79 cents in the past 30 days.
Zacks Rank & Stocks to Consider
RingCentral currently has a Zacks Rank #3 (Hold).
RingCentral’s shares have returned 5.7% compared with the Zacks Computer & Technology sector’s rise of 9.1% year to date.
Image: Bigstock
RingCentral (RNG) Aids Communication Portfolio With Optus Loop
RingCentral (RNG - Free Report) expanded its offerings in the Australian market through its recent partnership with Singtel Optus Pty Limited (Optus).
The collaboration resulted in the launch of a co-branded, all-in-one, cost-effective and portable cloud-based phone solution known as Optus Loop with RingCentral.
Leveraging RingCentral's robust and secure communication platform, this solution caters to businesses of all sizes in Australia, offering an agile and cost-effective cloud-based communication solution.
With Optus Loop with RingCentral, businesses can enhance collaboration and communication among their employees, customers and suppliers, regardless of their location or the device they use, enabling seamless connectivity and productivity.
Ringcentral, Inc. Price and Consensus
Ringcentral, Inc. price-consensus-chart | Ringcentral, Inc. Quote
RingCentral’s Robust Portfolio Aids Prospects
RingCentral continues to demonstrate its commitment to advancing cloud-based communication solutions, with a focus on improving accessibility and collaboration for businesses of all sizes in Australia.
In the fourth quarter, RNG partnered with Microsoft (MSFT - Free Report) to bolster its Enterprise solutions by integrating it with Microsoft Teams, gaining customer momentum in the United States with major players like Republic Airways.
RNG integrated its calling capabilities with Microsoft Teams, showcasing confidence in the ability to enhance the platform and deliver comprehensive communication solutions.
In the same quarter, RingCentral also announced the global availability of RingCentral Events, an immersive solution for virtual, onsite, and hybrid events, formerly known as Hopin Events, enhancing engagement and customization for businesses worldwide.
The success of RingCentral's Healthcare solution is noteworthy, with its consistent 99.999% reliability, innovative products and top-tier security standards. In the past 18 months, it has acquired more than 500 new healthcare customers across various enterprise segments, showcasing its impact and relevance in the industry.
To solidify its position in healthcare, RNG introduced a unified patient care solution. This solution integrates seamlessly with leading Electronic Health Record (EHR) providers such as Epic, Cerner and AllScripts.
Additionally, a partnership with SpinSci leverages RingCentral's AI-powered communications suite to enhance patient engagement, streamline workflows and ensure secure and efficient experiences in healthcare organizations worldwide.
RingCentral aims to extend its opportunities and boost its top line through constant innovation, robust partnerships, and a broad client base. These factors are expected to drive top-line growth.
For the first quarter of 2024, RingCentral expects revenues between $575 million and $580 million, indicating year-over-year growth of 8-9%. The Zacks Consensus Estimate for first-quarter revenues is pegged at $577.93 million, indicating 8.29% year-over-year growth.
Earnings are expected to be 79-80 cents per share. The consensus mark for earnings has increased by a penny to 79 cents in the past 30 days.
Zacks Rank & Stocks to Consider
RingCentral currently has a Zacks Rank #3 (Hold).
RingCentral’s shares have returned 5.7% compared with the Zacks Computer & Technology sector’s rise of 9.1% year to date.
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Bill Holdings (BILL - Free Report) and Cadence Design Systems (CDNS - Free Report) , each sporting Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Bill Holdings shares have declined 17.1% in the year-to-date period. BILL’s long-term earnings growth rate is currently projected at 23.64%.
Cadence Design Systems shares have gained 12.3% in the year-to-date period. CDNS’ long-term earnings growth rate is currently projected at 17.07%.