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RNG - RingCentral: Business Continues To Stabilize
Ringcentral Inc. Class A
2024-04-07 22:22:48 ET
Summary
RingCentral's recent results show signs of stabilization and positive growth, with subscription revenue and total revenue both increasing by 9%.
The company's conservative guidance for FY24 subscription revenue growth may be beatable, as historical trends suggest that RNG has consistently exceeded its revenue guidance.
The upcoming catalyst for growth and positive sentiment is the success of RNG's partnership strategy, along with the introduction of new products that are expected to contribute to future growth.