Cloopen Group (NYSE:RAAS) Announces Quarterly Earnings Results

Cloopen Group (NYSE:RAAS) released its earnings results on Wednesday. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.40), Fidelity Earnings reports.

Shares of RAAS stock opened at $9.34 on Friday. The company’s 50-day moving average price is $10.34. Cloopen Group has a 12 month low of $8.37 and a 12 month high of $59.00.

A number of equities research analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Cloopen Group in a research note on Monday, March 8th. They issued a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Cloopen Group in a research note on Friday, March 5th. They set a “neutral” rating and a $16.20 target price on the stock.

Cloopen Group Company Profile

Cloopen Group Holding Limited, through its subsidiaries, provides cloud-based communications solutions in the People's Republic of China. The company offers a suite of cloud-based communications solutions, which include communications platform as a service solution that provides application programing interfaces and software development kits to embed messaging, voice call, audio and video, instant messaging, and other communications into enterprises' applications, services, and/or business processes; cloud-based contact centers, which offers RongCC and 7moor Cloud solutions; and cloud-based unified communications and collaborations, such as RongVideo that provides instant messaging, audio and video conferencing, and telephony solutions.

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