1 week Ago By ABMN Staff
Shares of RingCentral, Inc. ( NYSE:RNG – Get Free Report ) have been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company.
The average 1-year target price among brokerages that have covered the stock in the last year is $41.64. A number of brokerages have recently weighed in on RNG.
Piper Sandler increased their price objective on RingCentral from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th.
Mizuho reiterated a “neutral” rating and issued a $42.00 price target on shares of RingCentral in a report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.
00 price objective on shares of RingCentral in a report on Friday, November 8th. Robert W. Baird raised their target price on shares of RingCentral from $36.
00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Wedbush upped their price target on shares of RingCentral from $36.
00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Get Our Latest Stock Analysis on RNG Insider Activity at RingCentral Hedge Funds Weigh In On RingCentral A number of institutional investors have recently bought and sold shares of RNG.
Point72 DIFC Ltd acquired a new position in RingCentral in the second quarter valued at approximately $39,000. Venturi Wealth Management LLC grew its holdings in shares of RingCentral by 150.4% during the 3rd quarter.
Venturi Wealth Management LLC now owns 1,863 shares of the software maker’s stock worth $59,000 after purchasing an additional 1,119 shares during the period. Quarry LP raised its holdings in RingCentral by 106.7% in the 3rd quarter.
Quarry LP now owns 1,902 shares of the software maker’s stock valued at $60,000 after buying an additional 982 shares during the period. KBC Group NV lifted its position in RingCentral by 38.9% in the third quarter.
KBC Group NV now owns 2,659 shares of the software maker’s stock valued at $84,000 after buying an additional 744 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in RingCentral during the third quarter worth about $121,000. 98.
61% of the stock is owned by hedge funds and other institutional investors. RingCentral Price Performance Shares of RNG stock opened at $35.40 on Wednesday.
The stock’s fifty day moving average price is $37.33 and its 200 day moving average price is $33.42.
RingCentral has a 1-year low of $26.98 and a 1-year high of $42.19.
The company has a market cap of $3.20 billion, a price-to-earnings ratio of -33.40, a price-to-earnings-growth ratio of 2.
48 and a beta of 0.99. RingCentral ( NYSE:RNG – Get Free Report ) last released its earnings results on Thursday, November 7th.
The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.
10. RingCentral had a negative net margin of 4.17% and a negative return on equity of 2.
55%. The company had revenue of $608.77 million during the quarter, compared to analysts’ expectations of $601.
91 million. As a group, equities research analysts anticipate that RingCentral will post 0.84 earnings per share for the current year.
About RingCentral ( Get Free Report RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience. Recommended Stories Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with MarketBeat.
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