RingCentral Inc. (RNG) Stock: A Value Analysis

Moreover, the 36-month beta value for RNG is 0.91. Analysts have varying opinions on the stock, with 5 analysts rating it as a “buy,” 7 as “overweight,” 3 as “hold,” and 0 as “sell.”

The public float for RNG is 79.93M and currently, short sellers hold a 5.18% of that float. On April 03, 2024, RNG’s average trading volume was 1.25M shares.

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RNG) stock’s latest price update

RingCentral Inc. (NYSE: RNG)’s stock price has decreased by -1.78 compared to its previous closing price of 33.74. However, the company has seen a -5.53% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-26 that The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here’s why you should take advantage.

RNG’s Market Performance

RingCentral Inc. (RNG) has seen a -5.53% fall in stock performance for the week, with a -2.16% decline in the past month and a -2.39% plunge in the past quarter. The volatility ratio for the week is 3.34%, and the volatility levels for the past 30 days are at 3.25% for RNG. The simple moving average for the past 20 days is -5.08% for RNG’s stock, with a 2.55% simple moving average for the past 200 days.

Analysts’ Opinion of RNG

Many brokerage firms have already submitted their reports for RNG stocks, with Wells Fargo repeating the rating for RNG by listing it as a “Equal Weight.” The predicted price for RNG in the upcoming period, according to Wells Fargo is $36 based on the research report published on December 20, 2023 of the previous year 2023.

Jefferies, on the other hand, stated in their research note that they expect to see RNG reach a price target of $35, previously predicting the price at $40. The rating they have provided for RNG stocks is “Hold” according to the report published on December 12th, 2023.

Rosenblatt gave a rating of “Neutral” to RNG, setting the target price at $35 in the report published on October 23rd of the previous year.

RNG Trading at -2.36% 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 -23.43% of loss for the given period.

Volatility was left at 3.25%, however, over the last 30 days, the volatility rate increased by 3.34%, as shares sank -0.51% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.77% lower at present.

During the last 5 trading sessions, RNG fell by -5.53%, which changed the moving average for the period of 200-days by -3.16% in comparison to the 20-day moving average, which settled at $34.90. In addition, RingCentral Inc. saw -2.39% 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 Agarwal Vaibhav, who sale 14,113 shares at the price of $34.84 back on Mar 15 ’24. After this action, Agarwal Vaibhav now owns 116,640 shares of RingCentral Inc., valued at $491,655 using the latest closing price.

GOLDMAN KENNETH A, the Director of RingCentral Inc., sale 1,286 shares at $36.06 during a trade that took place back on Mar 08 ’24, which means that GOLDMAN KENNETH A is holding 22,402 shares at $46,368 based on the most recent closing price.

Stock Fundamentals for RNG

Current profitability levels for the company are sitting at:

  • -0.09 for the present operating margin
  • 0.7 for the gross margin

The net margin for RingCentral Inc. stands at -0.08. The total capital return value is set at -0.15.

Based on RingCentral Inc. (RNG), the company’s capital structure generated 1.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at -3.51. The interest coverage ratio of the stock is -64.74.

Currently, EBITDA for the company is 75.97 million with net debt to EBITDA at 41.88. When we switch over and look at the enterprise to sales, we see a ratio of 2.1. The receivables turnover for the company is 6.04for trailing twelve months and the total asset turnover is 1.13. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.05.

Conclusion

To wrap up, the performance of RingCentral Inc. (RNG) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.

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