Company’s 36-month beta value is 1.00.Analysts have differing 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 80.69M, and currently, short sellers hold a 5.64% ratio of that floaft. The average trading volume of RNG on May 08, 2024 was 1.14M shares.
RNG) stock’s latest price update
RingCentral Inc. (NYSE: RNG)’s stock price has gone rise by 15.57 in comparison to its previous close of 29.99, however, the company has experienced a 15.23% increase in its stock price over the last five trading days. Seeking Alpha reported 2024-05-07 that RingCentral, Inc. (NYSE:RNG ) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Will Wong – Vice President, Investor Relations Vlad Shmunis – Founder, Chairman and CEO Sonalee Parekh – Chief Financial Officer Conference Call Participants Kash Rangan – Goldman Sachs Samad Samana – Jefferies Ryan MacWilliams – Barclays Siti Panigrahi – Mizuho Tim Horan – Oppenheimer Brian Peterson – Raymond James Bobby Dee – Truist Operator Thank you for standing by. This is the conference operator.
RNG’s Market Performance
RNG’s stock has risen by 15.23% in the past week, with a monthly rise of 2.57% and a quarterly rise of 5.29%. The volatility ratio for the week is 3.06% while the volatility levels for the last 30 days are 3.07% for RingCentral Inc. The simple moving average for the past 20 days is 13.89% for RNG’s stock, with a 9.18% 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 5.80% 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 -19.92% of loss for the given period.
Volatility was left at 3.07%, however, over the last 30 days, the volatility rate increased by 3.06%, as shares surge +6.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.14% upper at present.
During the last 5 trading sessions, RNG rose by +14.33%, which changed the moving average for the period of 200-days by -13.79% in comparison to the 20-day moving average, which settled at $30.53. In addition, RingCentral Inc. saw 2.09% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RNG starting from Agarwal Vaibhav, who sale 1,984 shares at the price of $34.55 back on Apr 01 ’24. After this action, Agarwal Vaibhav now owns 114,656 shares of RingCentral Inc., valued at $68,539 using the latest closing price.
Agarwal Vaibhav, the DEPUTY CHIEF FINANCIAL OFFICER of RingCentral Inc., sale 14,113 shares at $34.84 during a trade that took place back on Mar 15 ’24, which means that Agarwal Vaibhav is holding 116,640 shares at $491,655 based on the most recent closing price.
Stock Fundamentals for RNG
Current profitability levels for the company are sitting at:
- -0.07 for the present operating margin
- 0.7 for the gross margin
The net margin for RingCentral Inc. stands at -0.06. The total capital return value is set at -0.14.
Based on RingCentral Inc. (RNG), the company’s capital structure generated 1.26 points at debt to capital in total, while cash flow to debt ratio is standing at 0.25. The debt to equity ratio resting at -4.85. The interest coverage ratio of the stock is 10.03.
Currently, EBITDA for the company is 75.97 million with net debt to EBITDA at 75.28. When we switch over and look at the enterprise to sales, we see a ratio of 2.03. The receivables turnover for the company is 6.07for trailing twelve months and the total asset turnover is 1.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.85.
Conclusion
In a nutshell, RingCentral Inc. (RNG) has experienced a better performance in recent times. The stock has received mixed “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.
