RingCentral Inc. (NYSE: RNG) is -13.76% lower on its value in year-to-date trading and has touched a low of $25.32 and a high of $68.54 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RNG stock was last observed hovering at around $31.35 in the last trading session, with the day’s loss setting it -0.82% off its average median price target of $45.00 for the next 12 months. It is also 53.03% off the consensus price target high of $65.00 offered by 30 analysts, but current levels are -5.28% lower than the price target low of $29.00 for the same period.
Currently trading at $30.53, the stock is 8.11% and 5.96% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.47 million and changing -2.62% at the moment leaves the stock -15.75% off its SMA200. RNG registered -50.86% loss for a year compared to 6-month loss of -14.70%. The firm has a 50-day simple moving average (SMA 50) of $2.05 and a 200-day simple moving average (SMA200) of -$8.02.
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The stock witnessed a 12.57% gain in the last 1 month and extending the period to 3 months gives it a -13.66%, and is 4.45% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.81% over the week and 5.17% over the month.
RingCentral Inc. (RNG) has around 3902 employees, a market worth around $2.92B and $2.05B in sales. Fwd P/E is 8.22. Profit margin for the company is -38.10%. Distance from 52-week low is 20.58% and -55.46% from its 52-week high. The company has generated returns on investments over the last 12 months (-56.50%).
RingCentral Inc. (RNG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for RingCentral Inc. (RNG) is a “Overweight”. 30 analysts offering their recommendations for the stock have an average rating of 2.20, where 10 rate it as a Hold and 3 think it is a “Overweight”. 17 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
RingCentral Inc. is expected to release its quarterly report on 08/01/2023.The EPS is expected to shrink by -125.10% this year
RingCentral Inc. (RNG) Top Institutional Holders
The shares outstanding are 95.72M, and float is at 84.81M with Short Float at 5.49%.
RingCentral Inc. (RNG) Insider Activity
A total of 43 insider transactions have happened at RingCentral Inc. (RNG) in the last six months, with sales accounting for 28 and purchases happening 15 times. The most recent transaction is an insider sale by Parekh Sonalee Elizabeth, the company’s Chief Financial Officer. SEC filings show that Parekh Sonalee Elizabeth sold 4,250 shares of the company’s common stock on May 16 at a price of $27.24 per share for a total of $0.12 million. Following the sale, the insider now owns 0.13 million shares.
RingCentral Inc. disclosed in a document filed with the SEC on Feb 27 that Marlow John H (SVP, CAO & General Counsel) sold a total of 7,823 shares of the company’s common stock. The trade occurred on Feb 27 and was made at $34.23 per share for $0.27 million. Following the transaction, the insider now directly holds 0.19 million shares of the RNG stock.
Still, SEC filings show that on Feb 22, Katibeh Mohammed (President and COO) disposed off 7,454 shares at an average price of $35.73 for $0.27 million. The insider now directly holds 110,248 shares of RingCentral Inc. (RNG).
RingCentral Inc. (RNG): Who are the competitors?
The company’s main competitors (and peers) include Akamai Technologies Inc. (AKAM) that is trading -11.37% down over the past 12 months and AT&T Inc. (T) that is -23.10% lower over the same period. 8×8 Inc. (EGHT) is -52.29% down on the 1-year trading charts.