Some people think of this exercise as a push-up variation which, while not incorrect, is an understatement. It is so much more than just a push-up!
The benefits of this exercise are (in addition to targeting the groups of muscles that are involved in a plank, dumbbell row, and push-up) it also develops rotational core strength, which can help your balance, coordination, and lower back weakness.
The push-up renegade row is an excellent exercise to ensure you are getting a balanced approach to strengthening the entire upper body and core.