Why RingCentral Inc. (RNG)’s Most Recent Report Reveals Some Hints About Its Future

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RingCentral Inc. (NYSE:RNG) went down by -9.13% from its latest closing price compared to the recent 1-year high of $449.00. The company’s stock price has collected -13.16% of loss in the last five trading sessions. Press Release reported on 02/25/21 that RingCentral Opens Innovation Centers in India

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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 0.62. Opinions of the stock are interesting as 24 analysts out of 26 who provided ratings for RingCentral Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $481.63, which is $151.49 above the current price. RNG currently public float of 78.46M and currently shorts hold a 6.22% ratio of that float. Today, the average trading volume of RNG was 810.37K shares.

RNG’s Market Performance

RNG stocks went down by -13.16% for the week, with a monthly drop of -13.07% and a quarterly performance of 13.48%, while its annual performance rate touched 49.23%. The volatility ratio for the week stands at 6.08% while the volatility levels for the past 30 days are set at 4.61% for RingCentral Inc.. The simple moving average for the period of the last 20 days is -17.13% for RNG stocks with a simple moving average of 8.70% for the last 200 days.

Analysts’ Opinion of RNG

Many brokerage firms have already submitted their reports for RNG stocks, with Morgan Stanley repeating the rating for RNG by listing it as a “Overweight.” The predicted price for RNG in the upcoming period, according to Morgan Stanley is $420 based on the research report published on December 17th of the previous year 2020.

Mizuho, on the other hand, stated in their research note that they expect to see RNG reach a price target of $350. The rating they have provided for RNG stocks is “Buy” according to the report published on October 09th, 2020.

RNG Trading at -14.10% 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 -24.92% of loss for the given period.

Volatility was left at 4.61%, however, over the last 30 days, the volatility rate increased by 6.08%, as shares sank -16.30% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.04% lower at present.

During the last 5 trading sessions, RNG fell by -13.16%, which changed the moving average for the period of 200-days by +17.93% in comparison to the 20-day moving average, which settled at $403.50. In addition, RingCentral Inc. saw -11.05% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at RNG starting from Eswaran Anand, who sale 2,161 shares at the price of $380.87 back on Feb 26. After this action, Eswaran Anand now owns 67,419 shares of RingCentral Inc., valued at $823,051 using the latest closing price.

Agarwal Vaibhav, the Chief Accounting Officer of RingCentral Inc., sale 337 shares at $384.37 during a trade that took place back on Feb 23, which means that Agarwal Vaibhav is holding 13,921 shares at $129,533 based on the most recent closing price.

Stock Fundamentals for RNG

Current profitability levels for the company are sitting at:

  • -9.33 for the present operating margin
  • +72.34 for the gross margin

The net margin for RingCentral Inc. stands at -7.01. The total capital return value is set at -7.53, while invested capital returns managed to touch -5.75. Equity return is now at value -18.90, with -5.30 for asset returns.

Based on RingCentral Inc. (RNG), the company’s capital structure generated 462.84 points at debt to equity in total, while total debt to capital is 82.23. Total debt to assets is 66.15, with long-term debt to equity ratio resting at 452.86. Finally, the long-term debt to capital ratio is 80.46.

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When we switch over and look at the enterprise to sales, we see a ratio of 29.07, with the company’s debt to enterprise value settled at 0.04. The receivables turnover for the company is 7.74 and the total asset turnover is 0.65. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.97.

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