The stock of RingCentral Inc (RNG) has seen a 1.17% increase in the past week, with a 15.57% gain in the past month, and a 11.72% flourish in the past quarter. The volatility ratio for the week is 6.39%, and the volatility levels for the past 30 days are at 3.39% for RNG. The simple moving average for the last 20 days is 6.84% for RNG’s stock, with a simple moving average of 16.44% for the last 200 days.
Is It Worth Investing in RingCentral Inc (NYSE: RNG) Right Now?
Additionally, the 36-month beta value for RNG is 0.98. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 7 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
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The public float for RNG is 80.05M and currently, short sellers hold a 6.42% ratio of that float. The average trading volume of RNG on November 14, 2024 was 1.32M shares.
RNG) stock’s latest price update
The stock price of RingCentral Inc (NYSE: RNG) has jumped by 4.60 compared to previous close of 36.27. Despite this, the company has seen a gain of 1.17% in its stock price over the last five trading days. zacks.com reported 2024-11-08 that RingCentral’s third-quarter 2024 results benefit from a robust product portfolio and strong subscription revenue growth.
Analysts’ Opinion of RNG
Many brokerage firms have already submitted their reports for RNG stocks, with Rosenblatt repeating the rating for RNG by listing it as a “Buy.” The predicted price for RNG in the upcoming period, according to Rosenblatt is $45 based on the research report published on August 02, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see RNG reach a price target of $36. The rating they have provided for RNG stocks is “Equal Weight” according to the report published on December 20th, 2023.
Jefferies gave a rating of “Hold” to RNG, setting the target price at $35 in the report published on December 12th of the previous year.
RNG Trading at 16.96% 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 -7.42% of loss for the given period.
Volatility was left at 3.39%, however, over the last 30 days, the volatility rate increased by 6.39%, as shares surge +15.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.15% upper at present.
During the last 5 trading sessions, RNG rose by +1.17%, which changed the moving average for the period of 200-days by +6.78% in comparison to the 20-day moving average, which settled at $35.51. In addition, RingCentral Inc saw 11.75% 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 THEIS ROBERT I, who proposed sale 1,457 shares at the price of $37.93 back on Nov 13 ’24. After this action, THEIS ROBERT I now owns shares of RingCentral Inc, valued at $55,264 using the latest closing price.
Agarwal Vaibhav, the DEPUTY CHIEF FINANCIAL OFFICER of RingCentral Inc, sale 1,985 shares at $31.40 during a trade that took place back on Oct 01 ’24, which means that Agarwal Vaibhav is holding 135,560 shares at $62,331 based on the most recent closing price.
Stock Fundamentals for RNG
Current profitability levels for the company are sitting at:
- -0.02 for the present operating margin
- 0.7 for the gross margin
The net margin for RingCentral Inc stands at -0.04. The total capital return value is set at -0.06.
Based on RingCentral Inc (RNG), the company’s capital structure generated 1.28 points at debt to capital in total, while cash flow to debt ratio is standing at 0.3. The debt to equity ratio resting at -4.52. The interest coverage ratio of the stock is 1.8.
Currently, EBITDA for the company is 133.56 million with net debt to EBITDA at 8.76. When we switch over and look at the enterprise to sales, we see a ratio of 2.05. The receivables turnover for the company is 5.96for trailing twelve months and the total asset turnover is 1.3. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.88.
Conclusion
In conclusion, RingCentral Inc (RNG) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
