RingCentral Inc (NYSE: RNG) has experienced a rise in its stock price by 0.29 compared to its previous closing price of 37.76. However, the company has seen a fall of -2.87% in its stock price over the last five trading days. zacks.com reported 2024-12-02 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.
Is It Worth Investing in RingCentral Inc (NYSE: RNG) Right Now?
The 36-month beta value for RNG is also noteworthy at 0.99. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 3 rating it as “overweight,” 10 rating it as “hold,” and 0 rating it as “sell.”
The public float for RNG is 78.88M, and at present, short sellers hold a 7.56% of that float. The average trading volume of RNG on December 03, 2024 was 1.32M shares.
RNG’s Market Performance
The stock of RingCentral Inc (RNG) has seen a -2.87% decrease in the past week, with a 3.90% rise in the past month, and a 29.91% gain in the past quarter. The volatility ratio for the week is 2.99%, and the volatility levels for the past 30 days are at 4.13% for RNG. The simple moving average for the past 20 days is 2.33% for RNG’s stock, with a 15.32% simple moving average for the past 200 days.
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 10.02% 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 -7.59% of loss for the given period.
Volatility was left at 4.13%, however, over the last 30 days, the volatility rate increased by 2.99%, as shares surge +5.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.23% upper at present.
During the last 5 trading sessions, RNG fell by -2.30%, which changed the moving average for the period of 200-days by +24.33% in comparison to the 20-day moving average, which settled at $37.02. In addition, RingCentral Inc saw 11.55% 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 2015 VEN C TRS FBO EDWARD B VE, who proposed sale 1,890 shares at the price of $38.35 back on Nov 27 ’24. After this action, 2015 VEN C TRS FBO EDWARD B VE now owns shares of RingCentral Inc, valued at $72,482 using the latest closing price.
2015 VENDROW C TRT FBO JOSH VE, the 10% Owner of RingCentral Inc, proposed sale 1,890 shares at $38.31 during a trade that took place back on Nov 27 ’24, which means that 2015 VENDROW C TRT FBO JOSH VE is holding shares at $72,409 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 -0.05.
Based on RingCentral Inc (RNG), the company’s capital structure generated 1.29 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 -4.43. The interest coverage ratio of the stock is -0.8.
Currently, EBITDA for the company is 133.56 million with net debt to EBITDA at 6.53. 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 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 summary, RingCentral Inc (RNG) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others 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.
