RingCentral Inc (NYSE: RNG) is -1.77% 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 $34.08 in the last trading session, with the day’s gains setting it 0.31%.
Currently trading at $34.39, the stock is -0.97% and -6.40% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.3 million and changing 0.91% at the moment leaves the stock 3.27% off its SMA200. RNG registered -2.69% loss for a year compared to 6-month gain of 5.78%. The firm has a 50-day simple moving average (SMA 50) of $36.828 and a 200-day simple moving average (SMA200) of $33.29055.
The stock witnessed a -7.45% loss in the last 1 month and extending the period to 3 months gives it a 0.85%, and is 2.81% 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 3.37% over the week and 3.32% over the month.
RingCentral Inc (RNG) has around 4084 employees, a market worth around $3.09B and $2.36B in sales. Fwd P/E is 8.18. Profit margin for the company is -4.17%. Distance from 52-week low is 27.46% and -18.49% 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.
408.0 institutions hold shares in RingCentral Inc (RNG), with institutional investors hold 104.71% 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 103.66% 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).
