RingCentral Inc. [NYSE: RNG] closed the trading session at $329.18 on 12/02/20. The day’s price range saw the stock hit a low of $305.94, while the highest price level was $329.95. The company report on December 2, 2020 that Vodafone Business and RingCentral Announce Strategic Partnership to Deliver New Cloud-based Communications Services.
Next-generation services will support better collaboration and communication for businesses of all sizes across multiple countries, including the UK, Germany, Spain, and Italy.
Vodafone Business and RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration and contact center solutions, announced a strategic partnership that seeks to transform business communications and collaboration.
The stocks have a year to date performance of 95.16 percent and weekly performance of 16.39 percent. The stock has been moved at 29.57 percent over the last six months. The stock has performed 27.81 percent around the most recent 30 days and changed 9.24 percent over the most recent 3-months.
If compared to the average trading volume of 1.07M shares, RNG reached to a volume of 2277557 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 $342.67 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.
Mizuho have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 09, 2020. The new note on the price target was released on July 24, 2020, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another raise to $315, while KeyBanc Capital Markets analysts kept a Overweight rating on RNG stock.
The Average True Range (ATR) for RingCentral Inc. is set at 14.23, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 26.40. The Price to Book ratio for the last quarter was 97.97, with the Price to Cash per share for the same quarter was set at 8.44.
RNG stock trade performance evaluation
RingCentral Inc. [RNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.39. With this latest performance, RNG shares gained by 27.81% in over the last four-week period, additionally plugging by 29.57% over the last 6 months – not to mention a rise of 97.00% 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 68.98, with the RSI for the last a single of trading hit 75.28, and the three-weeks RSI is set at 64.31 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 282.53, while it was recorded at 302.70 for the last single week of trading, and 261.64 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 0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.80%. 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 0.96%.
RingCentral Inc. [RNG]: Insider Ownership positions
There are presently around $25,539 million, or 99.50% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: CAPITAL WORLD INVESTORS with ownership of 10,855,983, which is approximately 0.839% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 7,098,012 shares of the stock with an approximate value of $2.34 billion in RNG stocks shares; and BLACKROCK INC., currently with $2.15 billion in RNG stock with ownership of nearly 10.308% of the company’s market capitalization.
Positions in RingCentral Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 276 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 6,762,969 shares. Additionally, 258 investors decreased positions by around 6,436,898 shares, while 50 investors held positions by with 64,385,029 shares. The mentioned changes placed institutional holdings at 77,584,896 shares, according to the latest SEC report filing. RNG stock had 74 new institutional investments in for a total of 734,579 shares, while 76 institutional investors sold positions of 1,112,663 shares during the same period.