RingCentral Inc. [NYSE: RNG] price surged by 5.20 percent to reach at $15.09. The company report on August 3, 2020 that RingCentral Announces Second Quarter 2020 Results.
RingCentral Office® ARR surpassed $1 billion, up 36%.
Subscriptions Revenue up 32% .
A sum of 1776413 shares traded at recent session while its average daily volume was at 1.15M shares. RingCentral Inc. shares reached a high of $306.46 and dropped to a low of $290.00 until finishing in the latest session at $305.36.
The one-year RNG stock forecast points to a potential downside of -1.71. The average equity rating for RNG stock is currently 1.60, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $300.22 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 1.60. 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.
Wolfe Research have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 24, 2020. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on June 01, 2020, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another raise to $265, while BTIG Research analysts kept a Buy rating on RNG stock.
The Average True Range (ATR) for RingCentral Inc. is set at 13.79, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 26.86. The Price to Book ratio for the last quarter was 54.33, with the Price to Cash per share for the same quarter was set at 8.94. Price to Free Cash Flow for RNG in the course of the last twelve months was 870.53 with Quick ratio for the last quarter at 3.20.
RNG Stock Performance Analysis:
RingCentral Inc. [RNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.91. With this latest performance, RNG shares gained by 6.16% in over the last four-week period, additionally plugging by 48.41% over the last 6 months – not to mention a rise of 117.66% 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 63.51, with the RSI for the last a single of trading hit 68.96, and the three-weeks RSI is set at 59.66 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 274.05, while it was recorded at 287.25 for the last single week of trading, and 218.74 for the last 200 days.
Insight into RingCentral Inc. 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.
RNG Stock EPS
With the latest financial reports released by the company, RingCentral Inc. posted 0.22/share EPS, while the average EPS was predicted by analysts to be reported at 0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.80%. 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%.
RingCentral Inc. [RNG] Insider Position Details
There are presently around $23,001 million, or 98.43% 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 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 7,188,891 shares of the stock with an approximate value of $2.2 billion in RNG stocks shares; and BLACKROCK INC., currently with $1.62 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 August and at the time of the August reporting period, where 304 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 10,747,347 shares. Additionally, 203 investors decreased positions by around 9,670,126 shares, while 42 investors held positions by with 54,905,883 shares. The mentioned changes placed institutional holdings at 75,323,356 shares, according to the latest SEC report filing. RNG stock had 131 new institutional investments in for a total of 2,234,618 shares, while 54 institutional investors sold positions of 1,385,334 shares during the same period.