RingCentral Inc. (NYSE: RNG)’s stock price has gone decline by -3.37 in comparison to its previous close of 30.53, however, the company has experienced a -4.93% decrease in its stock price over the last five trading days. Barron’s reported on 11/10/22 that RingCentral Cuts Staff 10%. The Stock Soars on Expected Margin Growth.
Is It Worth Investing in RingCentral Inc. (NYSE: RNG) Right Now?
compared to its average ratio and a 36-month beta value of 0.91. Analysts have mixed views on the stock, with 17 analysts rating it as a “buy,” 3 as “overweight,” 10 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for RingCentral Inc. (RNG) is $45.74, which is $15.89 above the current market price. The public float for RNG is 84.81M, and currently, short sellers hold a 7.10% ratio of that float. The average trading volume of RNG on May 26, 2023 was 2.21M shares.
RNG’s Market Performance
The stock of RingCentral Inc. (RNG) has seen a -4.93% decrease in the past week, with a 5.24% rise in the past month, and a -15.08% fall in the past quarter. The volatility ratio for the week is 5.26%, and the volatility levels for the past 30 days are at 5.45% for RNG. The simple moving average for the past 20 days is 4.00% for RNG’s stock, with a -18.35% simple moving average for the past 200 days.
RNG Trading at 2.46% 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 -56.96% of loss for the given period.
Volatility was left at 5.45%, however, over the last 30 days, the volatility rate increased by 5.26%, as shares surge +6.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.89% lower at present.
During the last 5 trading sessions, RNG fell by -4.93%, which changed the moving average for the period of 200-days by -39.82% in comparison to the 20-day moving average, which settled at $28.45. In addition, RingCentral Inc. saw -16.67% 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 Parekh Sonalee Elizabeth, who sale 4,250 shares at the price of $27.24 back on May 16. After this action, Parekh Sonalee Elizabeth now owns 129,005 shares of RingCentral Inc., valued at $115,760 using the latest closing price.
Marlow John H, the SVP, CAO & General Counsel of RingCentral Inc., sale 7,823 shares at $34.23 during a trade that took place back on Feb 27, which means that Marlow John H is holding 185,260 shares at $267,767 based on the most recent closing price.
Stock Fundamentals for RNG
Current profitability levels for the company are sitting at:
- -18.40 for the present operating margin
- +67.73 for the gross margin
The net margin for RingCentral Inc. stands at -44.22. The total capital return value is set at -21.64, while invested capital returns managed to touch -52.58. Equity return is now at value 253.00, with -35.00 for asset returns.
When we switch over and look at the enterprise to sales, we see a ratio of 2.11, with the company’s debt to enterprise value settled at 0.34. The receivables turnover for the company is 7.31 and the total asset turnover is 0.85. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.98.
Conclusion
To put it simply, RingCentral Inc. (RNG) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
