RingCentral Inc. [NYSE: RNG] slipped around -3.35 points on Wednesday, while shares priced at $38.32 at the close of the session, down -8.04%. The company report on November 16, 2022 that RingCentral to Present at Upcoming Investor Conferences.
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RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that members of its management team are scheduled to present at the following investor conferences:.
Credit Suisse 26th Annual Technology ConferenceDate: Tuesday, November 29, 2022Time: 7:55 a.m. Pacific Time (10:55 a.m. Eastern Time).
RingCentral Inc. stock is now -79.55% down from its year-to-date (YTD) trading value. RNG Stock saw the intraday high of $40.665 and lowest of $37.52 per share. The company’s 52-week high price is 268.63, which means current price is +36.86% above from all time high which was touched on 01/12/22.
Compared to the average trading volume of 2.16M shares, RNG reached a trading volume of 3130204 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 $54.12 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 2.00. 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.
BTIG Research have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 18, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on September 23, 2022, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another raise to $90, while MoffettNathanson analysts kept a Buy rating on RNG stock.
The Average True Range (ATR) for RingCentral Inc. is set at 3.02, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 1.76. Price to Free Cash Flow for RNG in the course of the last twelve months was 19.98 with Quick ratio for the last quarter at 1.20.
How has RNG stock performed recently?
RingCentral Inc. [RNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.12. With this latest performance, RNG shares gained by 11.69% in over the last four-week period, additionally sinking by -36.28% over the last 6 months – not to mention a drop of -85.07% 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 54.77, with the RSI for the last a single of trading hit 57.31, and the three-weeks RSI is set at 52.07 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 37.84, while it was recorded at 39.13 for the last single week of trading, and 72.10 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 -18.92 and a Gross Margin at +71.88. RingCentral Inc.’s Net Margin is presently recorded at -23.59.
Return on Equity for this stock declined to -88.46, with Return on Assets sitting at -15.80.
RingCentral Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Earnings analysis for RingCentral Inc. [RNG]
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 35.40%.
Insider trade positions for RingCentral Inc. [RNG]
There are presently around $3,184 million, or 89.20% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: CAPITAL WORLD INVESTORS with ownership of 9,895,466, which is approximately -5.41% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 8,927,410 shares of the stock with an approximate value of $342.1 million in RNG stocks shares; and BLACKROCK INC., currently with $258.33 million in RNG stock with ownership of nearly 12.351% 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 198 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 15,994,093 shares. Additionally, 187 investors decreased positions by around 15,084,609 shares, while 43 investors held positions by with 52,004,932 shares. The mentioned changes placed institutional holdings at 83,083,634 shares, according to the latest SEC report filing. RNG stock had 49 new institutional investments in for a total of 2,627,201 shares, while 71 institutional investors sold positions of 2,228,902 shares during the same period.