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MarketScreener Homepage  >  Equities  >  Nyse  >  RingCentral, Inc.    RNG

RINGCENTRAL, INC.

(RNG)
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RingCentral : Mindbody Adopts RingCentral's Modern Cloud Communications Solution to Keep Its Distributed Workforce Connected

09/16/2020 | 08:03am EST

RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced that Mindbody, the leading technology platform for the wellness industry, has adopted RingCentral’s unified cloud communications platform to keep its distributed, global workforce connected from anywhere on any device, across the United States, United Kingdom, and Australia.

Founded in 2001 and headquartered in San Luis Obispo, CA with locations across the globe, Mindbody enables businesses and entrepreneurs in the wellness industry to run, market, and grow their businesses by enabling consumers to engage with wellness providers in their communities. With a mobile and distributed workforce located all over the world, Mindbody had to deploy disparate on-premise systems across the globe to support their employees. This solution experienced frequent outages, was costly, and difficult to manage. This negatively impacted the customer experience and its business did not meet the needs of its employees.

To modernize its communications infrastructure and enhance the customer experience, Mindbody deployed RingCentral’s cloud-based communications solution across all locations globally. With RingCentral, Mindbody has increased the quality of customer and employee engagement. Additionally, Mindbody has simplified management of its phone system under a single, unified solution from one centralized location, leading to reduced costs and a more streamlined approach.

“Our legacy phone system was impacting our ability to adequately serve our customers and ultimately, our bottom line,” said Henry Chang, senior manager of IT procurement at Mindbody. “RingCentral’s global solution has enabled us to move our entire communications infrastructure to the cloud and stay connected around the world. As a result, we’ve simplified management, reduced costs, and have become more productive and efficient internally, while successfully delivering a high-level of quality customer engagement.”

Key RingCentral benefits include:

  • Centralized communications: RingCentral allows Mindbody’s IT team to manage all communications worldwide - across the US, UK and Australia - from one centralized location.
  • Enhanced mobility: Mindbody employees use the RingCentral mobile capabilities to communicate with customers and peers from anywhere, using any device, using their business identity.
  • Reliability: RingCentral’s highly reliable and redundant architecture provides a truly global infrastructure that ensures 24/7 business continuity for Mindbody.

“Mental and physical wellness is especially critical during unprecedented times like these,” said Carson Hostetter, senior vice president, worldwide field sales at RingCentral. “We’re proud to enable an innovative organization like Mindbody to communicate and collaborate with their customers from anywhere so they can find the resources they need to take care of their wellbeing.”

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact center solutions for businesses worldwide. More flexible and cost-effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral’s open platform integrates with leading third-party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2020 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc.


© Business Wire 2020
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Financials (USD)
Sales 2020 1 166 M - -
Net income 2020 -122 M - -
Net Debt 2020 619 M - -
P/E ratio 2020 -218x
Yield 2020 -
Capitalization 26 239 M 26 239 M -
EV / Sales 2020 23,0x
EV / Sales 2021 18,7x
Nbr of Employees 2 363
Free-Float 87,6%
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Mean consensus BUY
Number of Analysts 26
Average target price 340,68 $
Last Close Price 292,74 $
Spread / Highest target 28,1%
Spread / Average Target 16,4%
Spread / Lowest Target 0,09%
EPS Revisions
Managers
NameTitle
Vladimir G. Shmunis Chairman & Chief Executive Officer
Anand Eswaran President & Chief Operating Officer
Mitesh Dilip Dhruv Chief Financial Officer
Vlad Vendrow Chief Technology Officer
Trevor Schulze Chief Information Officer
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