RingCentral Inc. (NYSE: RNG) is -7.78% lower on its value in year-to-date trading and has touched a low of $25.08 and a high of $38.35 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 $30.69 in the last trading session, with the day’s gains setting it 0.62%.
Currently trading at $31.31, the stock is 5.29% and -2.29% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.24 million and changing 2.02% at the moment leaves the stock -3.79% off its SMA200. RNG registered 4.02% gain for a year compared to 6-month loss of -5.83%. The firm has a 50-day simple moving average (SMA 50) of $32.0188 and a 200-day simple moving average (SMA200) of $32.53225.
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The stock witnessed a -4.69% gain in the last 1 month and extending the period to 3 months gives it a 9.59%, and is 3.54% 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 2.57% over the week and 3.63% over the month.
RingCentral Inc. (RNG) has around 4084 employees, a market worth around $2.87B and $2.31B in sales. Fwd P/E is 7.52. Profit margin for the company is -5.75%. Distance from 52-week low is 24.87% and -18.36% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.53%).
The EPS is expected to grow by 13.28% this year
391.0 institutions hold shares in RingCentral Inc. (RNG), with institutional investors hold 107.52% of the company’s shares. The shares outstanding are 83.54M, and float is at 80.05M with Short Float at 7.28%. Institutions hold 105.65% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 11.41 million shares valued at $321.75 million. The investor’s holdings represent 12.2495 of the RNG Shares outstanding. As of 2024-06-30, the second largest holder is CAPITAL WORLD INVESTORS with 9.86 million shares valued at $278.12 million to account for 10.5887 of the shares outstanding. The other top investors are SYLEBRA CAPITAL LLC which holds 7.54 million shares representing 8.0911 and valued at over $212.52 million, while AMERIPRISE FINANCIAL INC holds 6.845 of the shares totaling 6.38 million with a market value of $179.79 million.
RingCentral Inc. (RNG) Insider Activity
The most recent transaction is an insider sale by Agarwal Vaibhav, the company’s DEPUTY CHIEF FINANCIAL OFFICER. SEC filings show that Agarwal Vaibhav sold 1,985 shares of the company’s common stock on Oct 01 ’24 at a price of $31.40 per share for a total of $62331.0. Following the sale, the insider now owns 0.14 million shares.
Still, SEC filings show that on Aug 26 ’24, THEIS ROBERT I (Director) disposed off 8,448 shares at an average price of $34.00 for $0.29 million. The insider now directly holds 31,604 shares of RingCentral Inc. (RNG).
