RingCentral Inc (NYSE: RNG) is -4.26% lower on its value in year-to-date trading and has touched a low of $26.98 and a high of $42.19 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 $33.45 in the last trading session, with the day’s gains setting it 0.07%.
Currently trading at $33.52, the stock is -5.52% and -9.38% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.36 million and changing 0.21% at the moment leaves the stock 0.73% off its SMA200. RNG registered 1.39% gain for a year compared to 6-month gain of 2.44%. The firm has a 50-day simple moving average (SMA 50) of $37.0488 and a 200-day simple moving average (SMA200) of $33.27655.
The stock witnessed a -14.16% loss in the last 1 month and extending the period to 3 months gives it a 2.10%, and is -0.15% down 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 2.66% over the week and 3.48% over the month.
RingCentral Inc (RNG) has around 4084 employees, a market worth around $3.02B and $2.36B in sales. Fwd P/E is 7.97. Profit margin for the company is -4.17%. Distance from 52-week low is 24.24% and -20.55% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.49%).
with sales reaching $612.37M over the same period.The EPS is expected to grow by 14.29% this year, but quarterly earnings will post 8.89% year-over-year. Quarterly sales are estimated to grow 7.19% in year-over-year returns.
409.0 institutions hold shares in RingCentral Inc (RNG), with institutional investors hold 105.07% of the company’s shares. The shares outstanding are 80.51M, and float is at 78.29M with Short Float at 6.39%. Institutions hold 104.02% 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 Dec 12 ’24, SEGAL NED D. (Director) disposed off 2,914 shares at an average price of $41.60 for $0.12 million. The insider now directly holds 10,633 shares of RingCentral Inc (RNG).
