RingCentral, Inc. (RNG) Earnings Mystery: What to Expect On 11/09/2020

RingCentral, Inc. (NYSE:RNG) went up by 6.68% from its latest closing price when compared to the 1-year high value of $306.46 and move up 1.21%, while RNG stocks collected 9.21% of gains with the last five trading sessions. Press Release reported on 08/20/20 that RingCentral Appoints Homayoun Razavi to Lead Global Service Provider Business Unit

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RingCentral, Inc. (NYSE:RNG) Worth an Investment?

RingCentral, Inc. (NYSE: RNG) The 36 Months beta value for RNG stocks is at 0.47, while 23 of the analysts out of 26 who provided ratings for RingCentral, Inc. stocks as a “buy” while 1 as overweight, 2 rated it as hold and 0 as sell. The average price we get from analysts is $341.54 which is $31.34 above current price. RNG currently has a short float of 7.78% and public float of 77.29M with average trading volume of 1.06M shares.

RNG Market Performance

RNG stocks went up by 9.21% for the week, with the monthly jump of 1.59% and a quarterly performance of 14.49%, while its annual performance rate touched 120.33%. The simple moving average for the period of the last 20 days is 8.34% for RNG stocks with the simple moving average of 34.22% for the last 200 days.

Analysts’ Opinion on RingCentral, Inc. (NYSE:RNG)

Many brokerage firms have already submitted their reports for RNG stocks, with Wolfe Research repeating the rating for RNG shares by setting it to “Outperform”. The predicted price for RNG socks in the upcoming period according to Wolfe Research is $64 based on the research report published on July 24, 2020.

KeyBanc Capital Markets, on the other hand, stated in their research note that they expect to see RNG stock at the price of $315. The rating they have provided for RNG stocks is “Overweight” according to the report published on June 1, 2020.

BTIG Research gave “Buy” rating to RNG stocks, setting the target price at $265 in the report published on April 16, 2020.

RNG Stocks 9.97% Far from 50 Day Moving Average

After a stumble in the market that brought RNG to its low price for the period of the last 52 weeks, RingCentral, Inc. was able to take a rebound, for now settling with 1.22% of profit for the given period.

The stock volatility was left at 4.33%, however, within the period of a single month, the volatility rate increased by 4.03%, while the shares surge at the distance of +4.84% for the moving average in the last 20 days. In oppose to the moving average for the last 50 days, trading by +7.83% upper at the present time.

In the course of the last 5 trading sessions, RNG went up by +9.21%, which changed the moving average for the period of 200 days to the total of +82.66% of gains for the stock in comparison to the 20-day moving average settled at $287.03. In addition, RingCentral, Inc. saw 83.91% in overturn over the period of a single year with a tendency to cut further gains.

RNG Stock Insider Trading

Reports are indicating that there were more than several insider trading activities at RingCentral, Inc. (RNG), starting from Eswaran Anand, who sold 2,033 shares at the price of $287.95 back on Aug 27. After this action, Rushing now owns 74,522 shares of RingCentral, Inc., valued at $585,399 with the latest closing price.

Marlow John H, the SVP, CAO & General Counsel of RingCentral, Inc., sold 3,911 shares at the value of $287.91 during a trade that took place back on Aug 27, which means that Marlow John H is holding 165,509 shares at the value of $1,126,034 based on the most recent closing price.

RNG Stock Fundamentals

The current profitability levels are settled at -3.26 for the present operating margin and +74.43 for gross margin. The net margin for RingCentral, Inc. stands at -5.94. Total capital return value is set at -3.16, while invested capital returns managed to touch -5.81. Equity return holds the value -18.20%, with -6.20% for asset returns.

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Based on RingCentral, Inc. (RNG), the company’s capital structure generated 57.62 points for debt to equity in total, while total debt to capital is set at the value of 36.56. Total debt to assets is settled at the value of 29.62 with long-term debt to equity ratio rests at -1.43 and long-term debt to capital is 55.71.

The value for Enterprise to Sales is 15.63 with debt to enterprise value settled at 0.03. The receivables turnover for RingCentral, Inc. is 8.05 with the total asset turnover at the value of 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.78.

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