RingCentral, Inc. (RNG) Reveals an Earnings Mystery

RingCentral, Inc. (NYSE:RNG) went down by -2.91% from its latest closing price compared to the recent 1-year high of $317.84. The company’s stock price has collected -2.25% of loss in the last five trading sessions. Press Release reported on 09/11/20 that RingCentral, Inc. Prices $650 Million 0% Convertible Senior Notes Offering (up 52.5% Conversion Premium)

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Is It Worth Investing in RingCentral, Inc. (NYSE :RNG) Right Now?

Plus, the 36-month beta value for RNG is at 0.52. Opinions of the stock are interesting as 23 analysts out of 26 who provided ratings for RingCentral, Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 2 rated it as “hold,” and 0 as “sell.”

The average price from analysts is $341.54, which is $87.11 above the current price. RNG currently public float of 77.32M and currently shorts hold a 7.49% ratio of that float. Today, the average trading volume of RNG was 1.13M shares.

RNG’s Market Performance

RNG stocks went down by -2.25% for the week, with a monthly drop of -10.54% and a quarterly performance of -8.28%, while its annual performance rate touched 101.34%. The volatility ratio for the week stands at 6.30% while the volatility levels for the past 30 days are set at 4.86% for RingCentral, Inc.. The simple moving average for the period of the last 20 days is -10.02% for RNG stocks with a simple moving average of 7.90% for the last 200 days.

Analysts’ Opinion of RNG

Many brokerage firms have already submitted their reports for RNG stocks, with Wolfe Research repeating the rating for RNG by listing it as a “Outperform.” The predicted price for RNG in the upcoming period, according to Wolfe Research is $38 based on the research report published on July 24th of the current year 2020.

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

BTIG Research gave a rating of “Buy” to RNG, setting the target price at $265 in the report published on April 16th of the current year.

RNG Trading at -9.39% from the 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, the company was unable to rebound, for now settling with -19.95% of loss for the given period.

Volatility was left at 4.86%, however, over the last 30 days, the volatility rate increased by 6.30%, as shares sank -12.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.50% lower at present.

During the last 5 trading sessions, RNG fell by -2.25%, which changed the moving average for the period of 200-days by +48.07% in comparison to the 20-day moving average, which settled at $280.88. In addition, RingCentral, Inc. saw 50.84% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at RNG starting from Shmunis Vladimir, who sold 10,000 shares at the price of $269.25 back on Sep 10. After this action, Shmunis Vladimir now owns 188,280 shares of RingCentral, Inc., valued at $2,692,547 using the latest closing price.

Shmunis Vladimir, the CEO & Chairman of RingCentral, Inc., sold 10,000 shares at $261.03 during a trade that took place back on Sep 09, which means that Shmunis Vladimir is holding 188,280 shares at $2,610,330 based on the most recent closing price.

Stock Fundamentals for RNG

Current profitability levels for the company are sitting at:

  • -3.26 for the present operating margin
  • +74.43 for the gross margin

The net margin for RingCentral, Inc. stands at -5.94. The total capital return value is set at -3.16, while invested capital returns managed to touch -5.81. Equity return is now at 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 at debt to equity in total, while total debt to capital is 36.56. Total debt to assets is 29.62, with long-term debt to equity ratio resting at -1.43. Finally, the long-term debt to capital ratio is 55.71.

When we switch over and look at the enterprise to sales, we see a ratio of 15.63, with the company’s debt to enterprise value settled at 0.03. The receivables turnover for the company is 8.05 and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.78.

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