Cloopen Group (NYSE:RAAS) Issues Earnings Results

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

Shares of Cloopen Group stock traded down $0.19 during trading on Friday, reaching $9.15. The company’s stock had a trading volume of 8,289 shares, compared to its average volume of 1,658,227. The stock has a 50-day moving average price of $10.34. Cloopen Group has a fifty-two week low of $8.37 and a fifty-two week high of $59.00.

Several equities analysts have issued reports on RAAS shares. The Goldman Sachs Group started coverage on shares of Cloopen Group in a research note on Friday, March 5th. They issued a “neutral” rating and a $16.20 price objective for the company. Citigroup started coverage on Cloopen Group in a report on Monday, March 8th. They issued a “buy” rating and a $27.00 target price for the company.

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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