RingCentral Inc. [RNG] Revenue clocked in at $1.59 billion, down -66.92% YTD: What’s Next?

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RingCentral Inc. [NYSE: RNG] gained 0.52% on the last trading session, reaching $61.97 price per share at the time. The company report on May 9, 2022 that RingCentral Appoints Sonalee Parekh as Chief Financial Officer.

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Mo Katibeh appointed as President and Chief Operating Officer.

RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced that Sonalee Parekh has been appointed as RingCentral’s Chief Financial Officer and will join the Company in her new role by May 31, 2022. Parekh will be responsible for all the company’s financial functions, including financial planning, controllership, tax, treasury, corporate development and investor relations. The company also announced that Mo Katibeh, Chief Operating Officer, has been appointed as President of RingCentral, effective immediately.

RingCentral Inc. represents 93.31 million in outstanding shares, while the company has a total market value of $6.23 billion with the latest information. RNG stock price has been found in the range of $59.04 to $63.43.

If compared to the average trading volume of 1.44M shares, RNG reached a trading volume of 3968979 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $211.67 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 1.90. 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.

Oppenheimer have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 10, 2022. While these analysts kept the previous recommendation, Truist dropped their target price from $450 to $295. The new note on the price target was released on February 23, 2022, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another drop from $410 to $300, while Raymond James kept a Strong Buy rating on RNG stock. On February 23, 2022, analysts decreased their price target for RNG shares from 410 to 275.

The Average True Range (ATR) for RingCentral Inc. is set at 6.60, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 3.90. The Price to Book ratio for the last quarter was 17.07, with the Price to Cash per share for the same quarter was set at 2.66. Price to Free Cash Flow for RNG in the course of the last twelve months was 50.55 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for RNG stock

RingCentral Inc. [RNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.78. With this latest performance, RNG shares dropped by -42.65% in over the last four-week period, additionally sinking by -78.00% over the last 6 months – not to mention a drop of -73.94% 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 22.33, with the RSI for the last a single of trading hit 17.69, and the three-weeks RSI is set at 26.19 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 103.77, while it was recorded at 67.44 for the last single week of trading, and 185.05 for the last 200 days.

RingCentral Inc. [RNG]: A deeper dive into fundamental analysis

RingCentral Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

RingCentral Inc. [RNG]: An earnings per share (EPS) analysis

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 35.00%.

An analysis of insider ownership at RingCentral Inc. [RNG]

There are presently around $4,942 million, or 95.40% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: CAPITAL WORLD INVESTORS with ownership of 11,188,825, which is approximately 12.963% of the company’s market cap and around 1.30% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 8,901,739 shares of the stock with an approximate value of $548.79 million in RNG stocks shares; and VANGUARD GROUP INC, currently with $458.69 million in RNG stock with ownership of nearly 2.633% of the company’s market capitalization.

218 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 12,336,212 shares. Additionally, 265 investors decreased positions by around 9,999,593 shares, while 51 investors held positions by with 57,824,036 shares. The mentioned changes placed institutional holdings at 80,159,841 shares, according to the latest SEC report filing. RNG stock had 61 new institutional investments in for a total of 2,184,162 shares, while 107 institutional investors sold positions of 1,986,877 shares during the same period.