RingCentral - RNG Stock Forecast, Price & News

RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company offers business cloud communications and contact center solutions based on its Message Video Phone? platform. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers. The company's products also comprise RingCentral Engage Voice, a cloud-based outbound/blended customer engagement platform for midsize and enterprise companies; RingCentral Video, a video meeting service which includes our RCV video and team messaging capabilities and offers video and audio conferencing, file sharing, contact, task, and calendar management. In addition, it offers RingCentral Professional, a cloud based virtual telephone service that provides inbound call answering and management services for professionals; and RingCentral Fax that provides online fax capabilities. The company serves a range of industries, including financial services, education, healthcare, legal services, real estate, retail, technology, insurance, construction, hospitality, and state and local government, as well as others. It sells its products through a network of direct sales representatives, as well as sales agents, resellers, and channel partners. RingCentral, Inc. has strategic partnerships with Alcatel-Lucent Enterprise; and Vodafone Business. The company was incorporated in 1999 and is headquartered in Belmont, California.

RingCentral Trading Up 4.5 %

NYSE:RNG traded up $2.27 during trading hours on Friday, hitting $53.00. The stock had a trading volume of 3,201,740 shares, compared to its average volume of 2,434,245. RingCentral has a one year low of $47.28 and a one year high of $315.00. The company has a debt-to-equity ratio of 33.52, a quick ratio of 1.25 and a current ratio of 1.19. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -8.62 and a beta of 0.94. The business's 50 day moving average is $53.74 and its 200-day moving average is $91.28.

Wall Street Analyst Weigh In

RNG has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of RingCentral from $105.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, July 14th. Oppenheimer upgraded shares of RingCentral from a "market perform" rating to an "outperform" rating and set a $100.00 target price on the stock in a report on Tuesday, May 10th. William Blair reiterated an "outperform" rating on shares of RingCentral in a report on Wednesday, August 3rd. StockNews.com upgraded shares of RingCentral from a "sell" rating to a "hold" rating in a report on Wednesday, May 11th. Finally, UBS Group dropped their target price on shares of RingCentral from $84.00 to $60.00 and set a "neutral" rating on the stock in a report on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.73.

Insider Buying and Selling at RingCentral

In other RingCentral news, CFO Vaibhav Agarwal sold 6,325 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $62.86, for a total value of $397,589.50. Following the completion of the sale, the chief financial officer now owns 74,782 shares of the company's stock, valued at $4,700,796.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vladimir Shmunis purchased 20,000 shares of RingCentral stock in a transaction dated Tuesday, May 24th. The stock was bought at an average price of $59.52 per share, for a total transaction of $1,190,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 289,379 shares of the company's stock, valued at $17,223,838.08. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Agarwal sold 6,325 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $62.86, for a total transaction of $397,589.50. Following the completion of the transaction, the chief financial officer now owns 74,782 shares of the company's stock, valued at approximately $4,700,796.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,740 shares of company stock valued at $2,010,500. Corporate insiders own 7.35% of the company's stock.