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Short-Term Investor Stock RNG Gains 49.4%

The stock, RingCentral Inc. (RNG), featured on our 'Short-Term Investor' on November 6, 2018, at an opening price of $78.30. On April 29, 2019, the stock touched an intra-day high of $117.00, representing a gain of 49.4%. On July 30, 2019, the stock touched a new 52-week high of $146.38, and closed yesterday's trade at $135.61.

Why we published this stock?

RingCentral raised its fiscal 2018 guidance, while reporting upbeat Q3 results.

Q4, FY18 Guidance

The company projected Q4 total revenue in the range of $179 million - $182 million, representing annual growth of 27% - 29%, and non-GAAP EPS in the range of $0.17 - $0.19. Seventeen Wall Street analysts have a consensus earnings estimate of $0.17 per share on revenue of $175.61 million for the quarter.

For fiscal 2018, the company updated its total revenue forecast to a range of $664 million - $667 million, representing annual growth of 32%. This was up from the company's prior guidance range of $649 million - $656 million and annual growth of 29% - 30%. RingCentral expected non-GAAP EPS in the range of $0.71 - $0.73 versus the previous guidance range of $0.66 - $0.70.

Analysts then expected earnings of $0.68 per share on revenue of $653.61 million for fiscal 2018.

Q3 Results

The company Q3 net loss was $9.52 million or $0.12 per share compared to a profit of $269 thousand or $0.00 per share last year.

Non-GAAP earnings per share was $0.19 for the third quarter of 2018, compared with $0.13 per share for the third quarter of 2017.

Analysts polled by Thomson Reuters expected earnings of $0.16 per share for the quarter. Analysts' estimate typically exclude certain special items.

Total revenue was $174 million for the third quarter of 2018, up from $130 million in the third quarter of 2017, representing 33% growth.

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