At the time of writing, RingCentral Inc. [RNG] stock is trading at $30.31, up 3.17%. 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 9.34% over the last week, with a monthly amount drifted -10.75%, and not 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 August 02, 2024, when Rosenblatt upgraded its rating to a Buy but kept the price target unchanged to $45 for it. Previously, Wells Fargo downgraded its rating to Equal Weight on December 20, 2023, and kept the price target unchanged to $36. On December 12, 2023, downgrade downgraded it’s rating to Hold and revised its price target to $35 on the stock. Rosenblatt downgraded its rating to a Neutral and decreased its price target to $35 on October 23, 2023. Morgan Stanley downgraded its rating to a Equal-Weight. Craig Hallum downgraded its rating to Hold for this stock on August 08, 2023, but kept the price target unchanged to $38. In a note dated May 26, 2023, Needham upgraded an Buy rating on this stock but restated the target price of $42.
For the past year, the stock price of RingCentral Inc. fluctuated between $25.08 and $38.35. Currently, Wall Street analysts expect the stock to reach $113.35 within the next 12 months. RingCentral Inc. [NYSE: RNG] shares were valued at $30.31 at the most recent close of the market. An investor can expect a potential return of 273.97% based on the average RNG price forecast.
Analyzing the RNG fundamentals
According to RingCentral Inc. [NYSE:RNG], the company’s sales were 2.31B for trailing twelve months, which represents an 9.94% jump. Gross Profit Margin for this corporation currently stands at 0.7% with Operating Profit Margin at -0.05%, 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 0.26 and Total Capital is -0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-3.32.
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 29.48 points at the first support level, and at 28.66 for the second support level. However, for the 1st resistance point, the stock is sitting at 31.01, and for the 2nd resistance point, it is at 31.72.
Ratios To Look Out For
It is important to note that RingCentral Inc. [NYSE:RNG] has a current ratio of 0.84. Also, the Quick Ratio is 0.84, while the Cash Ratio stands at 0.26. Considering the valuation of this stock, the price to sales ratio is 1.21.
Transactions by insiders
Recent insider trading involved THEIS ROBERT I, Director, that happened on Aug 26 ’24 when 8448.0 shares were sold. CHIEF FINANCIAL OFFICER, Parekh Sonalee Elizabeth completed a deal on Aug 23 ’24 to sell 9913.0 shares. Meanwhile, SVP, CAO & GENERAL COUNSEL Marlow John H sold 19498.0 shares on Aug 21 ’24.
