KeyBanc Capital Markets slashes price target on RingCentral Inc. [RNG] – find out why.

RingCentral Inc. [NYSE: RNG] slipped around -4.84 points on Wednesday, while shares priced at $272.57 at the close of the session, down -1.74%. RingCentral Inc. stock is now 61.60% up from its year-to-date (YTD) trading value. RNG Stock saw the intraday high of $285.72 and lowest of $269.84 per share. The company’s 52-week high price is 292.48, which means current price is +102.13% above from all time high which was touched on 05/18/20.

Compared to the average trading volume of 1.40M shares, RNG reached a trading volume of 1243906 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about RingCentral Inc. [RNG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RNG shares is $277.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RNG stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on April 16, 2020, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another raise to $240, while Evercore ISI analysts kept a Outperform rating on RNG stock. On February 07, 2020, analysts increased their price target for RNG shares from 200 to 230.

The Average True Range (ATR) for RingCentral Inc. is set at 14.40, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 24.28. The Price to Book ratio for the last quarter was 48.50, with the Price to Cash per share for the same quarter was set at 8.83. Price to Free Cash Flow for RNG in the course of the last twelve months was 786.90 with Quick ratio for the last quarter at 3.20.

How has RNG stock performed recently?

RingCentral Inc. [RNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.87. With this latest performance, RNG shares gained by 3.62% in over the last four-week period, additionally plugging by 64.53% over the last 6 months – not to mention a rise of 131.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RNG stock in for the last two-week period is set at 53.80, with the RSI for the last a single of trading hit 55.57, and the three-weeks RSI is set at 55.21 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 250.76, while it was recorded at 267.86 for the last single week of trading, and 196.73 for the last 200 days.

RingCentral Inc. [RNG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and RingCentral Inc. [RNG] shares currently have an operating margin of -3.26 and a Gross Margin at +74.43. RingCentral Inc.’s Net Margin is presently recorded at -5.94.

Return on Total Capital for RNG is now -3.16, given the latest momentum, and Return on Invested Capital for the company is -5.81. Return on Equity for this stock declined to -10.08, with Return on Assets sitting at -4.57. When it comes to the capital structure of this company, RingCentral Inc. [RNG] has a Total Debt to Total Equity ratio set at 57.62. Additionally, RNG Total Debt to Total Capital is recorded at 36.56, with Total Debt to Total Assets ending up at 29.62. Long-Term Debt to Equity for the company is recorded at 55.71, with the Long-Term Debt to Total Capital now at 35.34.

Reflecting on the efficiency of the workforce at the company, RingCentral Inc. [RNG] managed to generate an average of -$22,686 per employee. Receivables Turnover for the company is 8.05 with a Total Asset Turnover recorded at a value of 0.77.RingCentral Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.

Earnings analysis for RingCentral Inc. [RNG]

With the latest financial reports released by the company, RingCentral Inc. posted 0.21/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 31.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RNG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for RingCentral Inc. go to 20.00%.

Insider trade positions for RingCentral Inc. [RNG]

There are presently around $20,993 million, or 99.00% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: CAPITAL WORLD INVESTORS with ownership of 10,135,829, which is approximately -0.545% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 7,188,891 shares of the stock with an approximate value of $1.99 billion in RNG stocks shares; and BLACKROCK INC., currently with $1.47 billion in RNG stock with ownership of nearly 5.047% of the company’s market capitalization.

Positions in RingCentral Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 291 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 11,086,825 shares. Additionally, 206 investors decreased positions by around 9,779,197 shares, while 32 investors held positions by with 54,808,169 shares. The mentioned changes placed institutional holdings at 75,674,191 shares, according to the latest SEC report filing. RNG stock had 129 new institutional investments in for a total of 2,597,652 shares, while 53 institutional investors sold positions of 1,420,904 shares during the same period.

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