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RingCentral Inc. (RNG) Upgraded Issued by Wall Street Gurus

RingCentral Inc. (NYSE:RNG) went down by -2.34% from its latest closing price compared to the recent 1-year high of $315.00. The company’s stock price has collected 5.61% of gains in the last five trading sessions. Barron’s reported on 02/22/22 that RingCentral Stock Has Tumbled Recently. Earnings Didn’t Spark a Rally.

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

Plus, the 36-month beta value for RNG is at 0.96. Opinions of the stock are interesting as 21 analysts out of 26 who provided ratings for RingCentral Inc. declared the stock was a “buy,” while 2 rated the stock as “overweight,” 3 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $116.35, which is $73.73 above the current price. RNG currently public float of 83.59M and currently shorts hold a 9.89% ratio of that float. Today, the average trading volume of RNG was 1.80M shares.

RNG’s Market Performance

RNG stocks went up by 5.61% for the week, with a monthly drop of -15.87% and a quarterly performance of -56.78%, while its annual performance rate touched -81.69%. The volatility ratio for the week stands at 7.21% while the volatility levels for the past 30 days are set at 6.71% for RingCentral Inc. The simple moving average for the period of the last 20 days is -3.63% for RNG stocks with a simple moving average of -64.29% for the last 200 days.

Analysts’ Opinion of RNG

Many brokerage firms have already submitted their reports for RNG stocks, with Robert W. Baird repeating the rating for RNG by listing it as a “Neutral.” The predicted price for RNG in the upcoming period, according to Robert W. Baird is $80 based on the research report published on May 16th of the current year 2022.

Oppenheimer, on the other hand, stated in their research note that they expect to see RNG reach a price target of $100. The rating they have provided for RNG stocks is “Outperform” according to the report published on May 10th, 2022.

Truist gave a rating of “Buy” to RNG, setting the target price at $295 in the report published on February 23rd of the current year.

RNG Trading at -19.69% 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 -82.42% of loss for the given period.

Volatility was left at 6.71%, however, over the last 30 days, the volatility rate increased by 7.21%, as shares sank -12.27% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -46.02% lower at present.

During the last 5 trading sessions, RNG rose by +5.61%, which changed the moving average for the period of 200-days by -74.88% in comparison to the 20-day moving average, which settled at $57.09. In addition, RingCentral Inc. saw -70.44% 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 Shmunis Vladimir, who purchase 10,000 shares at the price of $50.07 back on Jun 14. After this action, Shmunis Vladimir now owns 299,379 shares of RingCentral Inc., valued at $500,730 using the latest closing price.

Parekh Sonalee Elizabeth, the Chief Financial Officer of RingCentral Inc., sale 15,360 shares at $62.69 during a trade that took place back on Jun 02, which means that Parekh Sonalee Elizabeth is holding 113,528 shares at $962,918 based on the most recent closing price.

Stock Fundamentals for RNG

Current profitability levels for the company are sitting at:

  • -18.92 for the present operating margin
  • +71.88 for the gross margin

The net margin for RingCentral Inc. stands at -23.59. Equity return is now at value -401.30, with -23.20 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.04.