RingCentral Inc (NYSE: RNG) is 13.40% higher on its value in year-to-date trading and has touched a low of $26.98 and a high of $40.98 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RNG stock was last observed hovering at around $39.79 in the last trading session, with the day’s loss setting it -1.29%.
Currently trading at $38.50, the stock is 3.56% and 10.78% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.16 million and changing -3.24% at the moment leaves the stock 16.97% off its SMA200. RNG registered 24.19% gain for a year compared to 6-month gain of 10.44%. The firm has a 50-day simple moving average (SMA 50) of $34.588 and a 200-day simple moving average (SMA200) of $32.8796.
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The stock witnessed a 5.16% loss in the last 1 month and extending the period to 3 months gives it a 37.21%, and is 1.16% 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 4.31% over the week and 4.54% over the month.
RingCentral Inc (RNG) has around 4084 employees, a market worth around $3.48B and $2.36B in sales. Fwd P/E is 9.11. Profit margin for the company is -4.17%. Distance from 52-week low is 42.70% and -6.05% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.49%).
The EPS is expected to grow by 14.29% this year
407.0 institutions hold shares in RingCentral Inc (RNG), with institutional investors hold 105.90% of the company’s shares. The shares outstanding are 80.51M, and float is at 78.88M with Short Float at 7.56%. Institutions hold 104.23% 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
Still, SEC filings show that on Nov 27 ’24, 2015 VENDROW C TRT FBO JOSH VE (10% Owner) Proposed Sale 1,890 shares at an average price of $38.31 for $72409.0. The insider now directly holds shares of RingCentral Inc (RNG).
