RingCentral Inc. [RNG] Is Currently 2.42 below its 200 Period Moving Avg: What Does This Mean?

RingCentral Inc. [NYSE: RNG] gained 2.42% or 0.8 points to close at $33.84 with a heavy trading volume of 2840819 shares. The company report on February 23, 2023 that RingCentral to Present at Upcoming Investor Conference.

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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 conference:.

Morgan Stanley Technology, Media & Telecom ConferenceDate: Monday, March 6, 2023Time: 12:55 p.m. Pacific Time (3:55 p.m. Eastern Time).

It opened the trading session at $32.68, the shares rose to $34.07 and dropped to $32.29, the range by which the price of stock traded the whole day. The daily chart for RNG points out that the company has recorded -20.92% loss over the past six months. However, it is still -20.86% lower than its most recent low trading price.

If we look at the average trading volume of 1.92M shares, RNG reached to a volume of 2840819 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 $51.27 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 2.20. 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.

Evercore ISI have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on February 16, 2023. The new note on the price target was released on January 23, 2023, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another raise to $39, while Piper Sandler analysts kept a Neutral rating on RNG stock.

The Average True Range (ATR) for RingCentral Inc. is set at 2.39, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 1.66. Price to Free Cash Flow for RNG in the course of the last twelve months was 20.85 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 -4.30. With this latest performance, RNG shares dropped by -13.30% in over the last four-week period, additionally sinking by -20.92% over the last 6 months – not to mention a drop of -73.11% 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 40.34, with the RSI for the last a single of trading hit 36.40, and the three-weeks RSI is set at 43.07 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 37.56, while it was recorded at 33.72 for the last single week of trading, and 43.85 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and RingCentral Inc. [RNG] shares currently have an operating margin of -18.40 and a Gross Margin at +67.73. RingCentral Inc.’s Net Margin is presently recorded at -44.22.

Return on Equity for this stock declined to -689.33, with Return on Assets sitting at -37.79.

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 27.35%.

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

There are presently around $2,749 million, or 99.70% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: CAPITAL WORLD INVESTORS with ownership of 12,964,077, which is approximately 31.01% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 9,747,692 shares of the stock with an approximate value of $329.86 million in RNG stocks shares; and BLACKROCK INC., currently with $212.48 million in RNG stock with ownership of nearly -6.858% of the company’s market capitalization.

173 institutional holders increased their position in RingCentral Inc. [NYSE:RNG] by around 16,003,303 shares. Additionally, 214 investors decreased positions by around 17,946,627 shares, while 31 investors held positions by with 47,274,161 shares. The mentioned changes placed institutional holdings at 81,224,091 shares, according to the latest SEC report filing. RNG stock had 64 new institutional investments in for a total of 3,342,028 shares, while 86 institutional investors sold positions of 6,206,059 shares during the same period.


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