Cloopen Group (NYSE:RAAS) Updates Q2 2021 Earnings Guidance

Cloopen Group (NYSE:RAAS) updated its second quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $38.92 million-39.68 million, compared to the consensus revenue estimate of $40.46 million.

RAAS has been the topic of several analyst reports. The Goldman Sachs Group began coverage on shares of Cloopen Group in a report on Friday, March 5th. They issued a neutral rating and a $16.20 target price on the stock. Citigroup initiated coverage on shares of Cloopen Group in a research report on Monday, March 8th. They set a buy rating and a $27.00 target price on the stock.

NYSE:RAAS opened at $9.34 on Friday. The stock’s fifty day moving average price is $10.34. Cloopen Group has a 52-week low of $8.37 and a 52-week high of $59.00.

Cloopen Group (NYSE:RAAS) last posted its quarterly earnings results on Wednesday, June 9th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.40).

About Cloopen Group

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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