RingCentral Inc. [NYSE: RNG] closed the trading session at $29.15.
The stocks have a year to date performance of -14.14 percent and weekly performance of -14.09 percent. The stock has been moved at -7.55 percent over the last six months. The stock has performed -16.40 percent around the most recent 30 days and changed -14.19 percent over the most recent 3-months.
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If compared to the average trading volume of 1.25M shares, RNG reached to a volume of 3035652 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 $41.79 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 2.08. 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.
Rosenblatt have made an estimate for RingCentral Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 02, 2024. The new note on the price target was released on December 20, 2023, representing the official price target for RingCentral Inc. stock. Previously, the target price had yet another drop from $40 to $35, while Jefferies kept a Hold rating on RNG stock. On October 23, 2023, analysts decreased their price target for RNG shares from 52 to 35.
The Average True Range (ATR) for RingCentral Inc. is set at 1.44, with the Price to Sales ratio for RNG stock in the period of the last 12 months amounting to 1.16. Price to Free Cash Flow for RNG in the course of the last twelve months was 7.71 with Quick ratio for the last quarter at 0.84.
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 -14.09. With this latest performance, RNG shares dropped by -16.40% in over the last four-week period, additionally sinking by -7.55% over the last 6 months – not to mention a drop of -8.71% 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 32.28, with the RSI for the last a single of trading hit 23.65, and the three-weeks RSI is set at 37.75 for RingCentral Inc. [RNG]. The present Moving Average for the last 50 days of trading for this stock 31.98, while it was recorded at 32.52 for the last single week of trading, and 32.61 for the last 200 days.
RingCentral Inc. [RNG]: An insightful look at the core fundamentals
RingCentral Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.84 and a Current Ratio set at 0.84.
RingCentral Inc. [RNG]: Institutional Ownership
There are presently around $105.75%, or 107.62%% of RNG stock, in the hands of institutional investors. The top three institutional holders of RNG stocks are: VANGUARD GROUP INC with ownership of 11.41 million shares, which is approximately 12.2495%. CAPITAL WORLD INVESTORS, holding 9.86 million shares of the stock with an approximate value of $$278.12 million in RNG stocks shares; and CAPITAL WORLD INVESTORS, currently with $$212.52 million in RNG stock with ownership which is approximately 8.0911%.
