A share price of RingCentral Inc. [RNG] is currently trading at $34.38, up 14.64%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The RNG shares have gain 14.30% over the last week, with a monthly amount glided 1.75%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
RingCentral Inc. [NYSE: RNG] stock has seen the most recent analyst activity on December 20, 2023, when Wells Fargo downgraded its rating to a Equal Weight but kept the price target unchanged to $36 for it. Previously, Jefferies downgraded its rating to Hold on December 12, 2023, and dropped its price target to $35. On October 23, 2023, downgrade downgraded it’s rating to Neutral and revised its price target to $35 on the stock. Morgan Stanley downgraded its rating to a Equal-Weight. Craig Hallum downgraded its rating to a Hold but $38 remained the price target by the analyst firm on August 08, 2023. Needham upgraded its rating to Buy for this stock on May 26, 2023, but kept the price target unchanged to $42. In a note dated May 11, 2023, Credit Suisse upgraded an Outperform rating on this stock and boosted its target price from $40 to $45.
RingCentral Inc. experienced fluctuations in its stock price throughout the past year between $25.08 and $43.28. Currently, Wall Street analysts expect the stock to reach $126.64 within the next 12 months. RingCentral Inc. [NYSE: RNG] shares were valued at $34.38 at the most recent close of the market. An investor can expect a potential return of 268.35% based on the average RNG price forecast.
Analyzing the RNG fundamentals
Trailing Twelve Months sales for RingCentral Inc. [NYSE:RNG] were 2.25B which represents 9.47% growth. Gross Profit Margin for this corporation currently stands at 0.7% with Operating Profit Margin at -0.07%, Pretax Profit Margin comes in at -0.06%, and Net Profit Margin reading is -0.06%. To continue investigating profitability, this company’s Return on Assets is posted at -0.07, Equity is 0.31 and Total Capital is -0.14. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-4.85.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 32.88 points at the first support level, and at 31.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 35.49, and for the 2nd resistance point, it is at 36.61.
RingCentral Inc. [RNG] reported earnings per share of $0.86 for its fiscal quarter that ended on 12/31/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.82/share, meaning a difference of $0.04 and a surprise factor of 4.90%. By comparison, the stated earnings for the previous quarter ended on 9/30/2023 were $0.78 per share as compared to estimates of $0.75 per share, a difference of $0.03 representing a surprise of 4.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for RingCentral Inc. [NYSE:RNG] is 0.85. Further, the Quick Ratio stands at 0.84, while the Cash Ratio is 0.27. Considering the valuation of this stock, the price to sales ratio is 1.41.
Transactions by insiders
Recent insider trading involved Agarwal Vaibhav, DEPUTY CHIEF FINANCIAL OFFICER, that happened on Apr 01 ’24 when 1984.0 shares were sold. DEPUTY CHIEF FINANCIAL OFFICER, Agarwal Vaibhav completed a deal on Mar 15 ’24 to sell 14113.0 shares. Meanwhile, Director GOLDMAN KENNETH A sold 1286.0 shares on Mar 08 ’24.
