RingCentral Inc. (NYSE:RNG) went up by 1.33% from its latest closing price compared to the recent 1-year high of $315.00. The company’s stock price has collected -3.79% of loss in the last five trading sessions. Barron’s reported on 07/06/22 that RingCentral Stock Gets a Downgrade. Blame Microsoft.
Is It Worth Investing in RingCentral Inc. (NYSE :RNG) Right Now?
Plus, the 36-month beta value for RNG is at 0.97. Opinions of the stock are interesting as 22 analysts out of 28 who provided ratings for RingCentral Inc. declared the stock was a “buy,” while 2 rated the stock as “overweight,” 4 rated it as “hold,” and 0 as “sell.”
The average price from analysts is $83.38, which is $48.51 above the current price. RNG currently public float of 84.54M and currently shorts hold a 7.82% ratio of that float. Today, the average trading volume of RNG was 2.17M shares.
RNG’s Market Performance
RNG stocks went down by -3.79% for the week, with a monthly drop of -4.70% and a quarterly performance of -16.42%, while its annual performance rate touched -81.01%. The volatility ratio for the week stands at 4.57% while the volatility levels for the past 30 days are set at 4.60% for RingCentral Inc. The simple moving average for the period of the last 20 days is -0.48% for RNG stocks with a simple moving average of -57.77% for the last 200 days.
Analysts’ Opinion of RNG
Many brokerage firms have already submitted their reports for RNG stocks, with KeyBanc Capital Markets repeating the rating for RNG by listing it as a “Overweight.” The predicted price for RNG in the upcoming period, according to KeyBanc Capital Markets is $59 based on the research report published on September 13th of the current year 2022.
MKM Partners, on the other hand, stated in their research note that they expect to see RNG reach a price target of $80. The rating they have provided for RNG stocks is “Buy” according to the report published on August 04th, 2022.
RNG Trading at -9.85% 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 -86.22% of loss for the given period.
Volatility was left at 4.60%, however, over the last 30 days, the volatility rate increased by 4.57%, as shares sank -3.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.71% lower at present.
During the last 5 trading sessions, RNG fell by -3.79%, which changed the moving average for the period of 200-days by -78.15% in comparison to the 20-day moving average, which settled at $43.54. In addition, RingCentral Inc. saw -76.83% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at RNG starting from Marlow John H, who sale 6,047 shares at the price of $42.05 back on Aug 29. After this action, Marlow John H now owns 202,198 shares of RingCentral Inc., valued at $254,270 using the latest closing price.
Agarwal Vaibhav, the Chief Accounting Officer of RingCentral Inc., sale 3,149 shares at $44.23 during a trade that took place back on Aug 23, which means that Agarwal Vaibhav is holding 103,706 shares at $139,290 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 -582.40, with -23.90 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.04.