RingCentral Inc. [RNG] is 64.85% higher this YTD. Is it still time to buy?

RingCentral Inc. [NYSE: RNG] surged by $18.79 during the normal trading session on Thursday and reaching a high of $280.00 during the day while it closed the day at $278.05. The company report on September 10, 2020 that Computer History Museum and RingCentral Partner to Modernize Communications Across Historical Bay Area Institution.

RingCentral is the museum’s official enterprise cloud communications partner.

RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced a new multi-year partnership with The Computer History Museum, based in Mountain View, California. RingCentral will be the museum’s enterprise cloud communications partner, bringing a modern and unified communications infrastructure—including messaging, video and phone—to the Bay Area-based institution.

RingCentral Inc. stock has also loss -7.73% of its value over the past 7 days. However, RNG stock has inclined by 8.12% in the 3 months of the year. Over the past six months meanwhile, it has gained 54.64% and gained 64.85% year-on date.

The market cap for RNG stock reached $25.97 billion, with 88.25 million shares outstanding and 77.29 million shares in the current float. Compared to the average trading volume of 1.07M shares, RNG reached a trading volume of 3279087 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $341.54 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 15.28, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 25.17. The Price to Book ratio for the last quarter was 44.77, with the Price to Cash per share for the same quarter was set at 8.29. Price to Free Cash Flow for RNG in the course of the last twelve months was 803.93 with Quick ratio for the last quarter at 2.70.

RNG stock trade performance evaluation

RingCentral Inc. [RNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.73. With this latest performance, RNG shares dropped by -2.08% in over the last four-week period, additionally plugging by 54.64% over the last 6 months – not to mention a rise of 124.02% 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 48.95, with the RSI for the last a single of trading hit 47.94, and the three-weeks RSI is set at 48.97 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 282.02, while it was recorded at 268.75 for the last single week of trading, and 234.93 for the last 200 days.

RingCentral Inc. [RNG]: An insightful look at the core 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 2.70 and a Current Ratio set at 2.70.

Earnings per share (EPS) analysis for RingCentral Inc. [RNG] stock

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 30.00%.

RingCentral Inc. [RNG]: Insider Ownership positions

There are presently around $21,485 million, or 99.80% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: CAPITAL WORLD INVESTORS with ownership of 10,765,666, which is approximately 6.214% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 7,240,211 shares of the stock with an approximate value of $2.01 billion in RNG stocks shares; and BLACKROCK INC., currently with $1.65 billion in RNG stock with ownership of nearly 11.623% 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 314 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 9,070,266 shares. Additionally, 220 investors decreased positions by around 7,526,120 shares, while 47 investors held positions by with 60,672,507 shares. The mentioned changes placed institutional holdings at 77,268,893 shares, according to the latest SEC report filing. RNG stock had 108 new institutional investments in for a total of 1,150,822 shares, while 65 institutional investors sold positions of 1,780,223 shares during the same period.

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