Why Are RingCentral Shares Trading Higher Premarket?

Why Are RingCentral Shares Trading Higher Premarket?
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Oct. 19, 2021. Brendan McDermid/Reuters
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Keybanc analyst Steve Enders maintained RingCentral Inc (RNG) with an Overweight and raised the price target from $390 to $404, implying a 72.3 percent upside.

RingCentral reported third-quarter FY21 revenue growth of 37 percent year-on-year to $414.6 million, beating the consensus of $393.4 million.