RingCentral Stock Price, News & Analysis

RingCentral (NYSE:RNG) has been recognized as a Leader in two IDC MarketScape reports for both the enterprise and small to medium-sized business (SMB) segments of the UCaaS market. The enterprise report assessed 19 vendors for organizations with over 1,000 employees, while the SMB report evaluated 15 vendors for those with fewer than 1,000 employees. Key strengths highlighted include mobility, reliability, security, and integration capabilities. IDC predicts worldwide UCaaS revenue will reach $16.1 billion by 2024.

RingCentral (NYSE: RNG) announces the opening of two new innovation centers in India, located in Bangalore and Gurgaon. This expansion is part of the company’s global growth strategy, with plans to hire top engineering talent in the region. Additionally, Anil Goel has been appointed as Vice President of Engineering and General Manager for India, having previously held senior roles at OYO and Amazon. The initiative underscores RingCentral's commitment to enhancing cloud-based communication services for clients worldwide.

RingCentral (NYSE: RNG) has launched an innovative in-app calling feature for Salesforce, enhancing productivity for sales agents. This feature enables users to manage calls directly from Salesforce without the need for additional software. Key functionalities include call controls, click-to-call options, and performance analytics. Built with WebRTC technology, this integration promises convenience by allowing seamless communication from any device. The feature aims to improve customer engagement and streamline sales operations.

RingCentral (NYSE:RNG) has appointed former U.S. Secretary of Education, Arne Duncan, to its board of directors. Duncan, who served under the Obama Administration from 2009 to 2015, brings extensive experience from his tenure as CEO of Chicago Public Schools and his current roles at the University of Chicago and Emerson Collective. CEO Vlad Shmunis expressed enthusiasm for Duncan's insights, highlighting the importance of addressing community challenges through innovative communication technologies. This appointment signals a strategic move towards enhancing RingCentral's vision of enabling remote communication.

RingCentral, Inc. (NYSE:RNG) reported robust fourth quarter 2020 results, with total revenue rising 32% to $335 million. Subscription revenue surged 34% to over $306 million, while Annualized Exit Monthly Recurring Subscriptions (ARR) grew 35% to $1.3 billion. The company achieved record TCV deals, up over 50% sequentially. Despite a GAAP operating loss of $29 million, non-GAAP operating income improved to $34 million. For full year 2021, RingCentral projects revenue between $1.475 and $1.490 billion, reflecting expected growth of 25% to 26%.

RingCentral, Inc. (NYSE:RNG) has been recognized for its growth in the 2020 Frost Radar™ UCaaS Market Report by Frost & Sullivan, marking the second consecutive year it achieved this accolade. The report assesses 30 UCaaS providers, and RingCentral notably leads in market share and growth rates due to its extensive feature set that supports remote work. Its offerings, including RingCentral Office and Global Office, cater to businesses globally and are characterized by innovative technology, mobility, and collaborative user experiences.

RingCentral UK Ltd. has been chosen by Lush Cosmetics to enhance its global business communications. Collaborating with CDW, Lush sought a scalable cloud communications solution to meet its evolving needs. RingCentral Office® will enable Lush's employees to engage with customers across multiple channels, supporting remote work. CDW's partnership facilitated the transition, with positive initial feedback highlighting significant improvements in communication efficiency. Steve Rafferty of RingCentral expressed excitement about customizing solutions to enhance productivity and customer interaction.

RingCentral, Inc. (NYSE:RNG) announces that Foundation Building Materials (FBM) has chosen RingCentral Office® for its unified cloud communications, allowing over 3,600 employees to work seamlessly from various locations. FBM switched from multiple legacy vendors to a single, reliable solution to enhance communication and improve productivity. Key benefits highlighted include enhanced mobility, trusted reliability, and ease of administration, leading to zero service outages and streamlined operations.