RingCentral Inc. [RNG] stock prices are up 7.80% to $34.29 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The RNG shares have gain 6.23% over the last week, with a monthly amount glided 25.97%, 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.
The stock price of RingCentral Inc. [RNG] has been fluctuating between $25.08 and $41.76 over the past year. Currently, Wall Street analysts expect the stock to reach $116.41 within the next 12 months. RingCentral Inc. [NYSE: RNG] shares were valued at $34.29 at the most recent close of the market. An investor can expect a potential return of 239.49% based on the average RNG price forecast.
Analyzing the RNG fundamentals
The RingCentral Inc. [NYSE:RNG] reported sales of 2.25B for trailing twelve months, representing a surge of 9.47%. 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 0.28 and Total Capital is -0.14. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -3.37.
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 32.60 points at the first support level, and at 30.90 for the second support level. However, for the 1st resistance point, the stock is sitting at 35.21, and for the 2nd resistance point, it is at 36.12.
Ratios To Look Out For
It’s worth pointing out that RingCentral Inc. [NYSE:RNG]’s Current Ratio is 0.85. Also, the Quick Ratio is 0.84, while the Cash Ratio stands at 0.27. Considering the valuation of this stock, the price to sales ratio is 1.40.
Transactions by insiders
Recent insider trading involved Agarwal Vaibhav, DEPUTY CHIEF FINANCIAL OFFICER, that happened on Jul 01 ’24 when 1985.0 shares were sold. CHIEF FINANCIAL OFFICER, Parekh Sonalee Elizabeth completed a deal on May 28 ’24 to sell 8478.0 shares. Meanwhile, CEO and Chairman Shmunis Vladimir sold 32013.0 shares on May 22 ’24.
