An RingCentral Inc. (RNG) CEO & Chairman Sells 29652.0 Shares

RingCentral Inc. (NYSE:RNG) finished Wednesday with an addition of $13.06 to close at $236.96, an upside of 5.83 percent. An average of 1,163,080 shares of common stock have been traded in the last five days. There was a gain of $28.62 in the past week. The last 20 days have seen an average of 1,321,230 shares traded, while the 50-day average volume stands at 1,213,864.

RNG stock has increased by 8.98% in the last month. The company shares reached their 1-month lowest point of $207.53 on 10/06/21. With the stock rallying to its 52-week high on 02/16/21, shares of the company touched a low of $207.53 and a high of $449.00 in 52 weeks. In spite of this, the price is down -47.22% from the 52-week high.


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Insider Transactions

30 days have passed since RingCentral Inc. (RNG) last reported insider trading activity. Shmunis Vladimir, who is CEO & Chairman, most recently acquired $29,652 shares at $218.58 per share on Sep 14. In this transaction, the insider spent $6,481,392. SVP, CAO & General Counsel, Marlow John H, disposed of 7,500 shares at a price of $233.78 on Sep 09. The insider now owns more than $1,753,336 worth of shares. Prior to that, SVP, CAO & General Counsel Marlow John H went on to Sale 670 shares at $233.76 each on Sep 09. An amount of $156,620 was transacted.

Valuation Metrics

RingCentral Inc. (RNG) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 37.24 for the sector. The stock’s beta is 0.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 15.50, the price-to-book (PB) ratio at 234.61.

The quick ratio of RingCentral Inc. for the three months ended June 29 was 1.40, and the current ratio was 1.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 14.80 and a total debt to equity ratio of 14.80 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 72.60% against a 5-year average of 75.1%. RingCentral Inc.’s EBITDA margin for the year ending June 29 is -1.61%, while its operating margin for the same period stands at -13.20%. Its gross profit as reported stood at $860.05 million compared to revenue of $1.18 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, RingCentral Inc.’s return on assets was -6.40%, compared to -4.3% over the last five years. In the past year, the return on investment has been -7.40%, and the 5-year average is -4.6%. Meanwhile, the return on equity (ROE) for the past 12 months has been -58.10% and the 5-year average holds at -10.3%. For the broader industry, ROE averaged 3.34 over the past year.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $379.27 million in the quarter, while revenues of $352.36 million were grew 26.7%. The analyst consensus anticipated RingCentral Inc.’s latest quarter earnings to come in at $0.28 per share, but it turned out to be $0.32, a 14.30% surprise. For the quarter, EBITDA amounted to -$13.6 million. Shareholders own equity worth $91.51 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at RingCentral Inc. (RNG) price momentum. RSI 9-day as of the close on 13 October was 63.28%, suggesting the stock is Neutral, with historical volatility in this time frame at 61.70%.

As of today, RNG’s price is $226.16 +13.74% or $28.62 from its 5-day moving average. RNG is currently trading +8.40% higher than its 20-day SMA and -5.24% lower than its 100-day SMA. However, the stock’s current price level is -12.20% below the SMA50 and -38.82% below the SMA200.

The stochastic %K and %D were 69.92% and 61.30%, respectively, and the average true range (ATR) was 9.68. With the 14-day stochastic at 98.69% and the average true range at 9.37, the RSI (14) stands at 56.59%. The stock has reached 5.61 on the 9-day MACD Oscillator while the 14-day reading was at 7.42.

Analyst Ratings

The consensus rating for RingCentral Inc. (RNG) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RNG, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 22 others rate it as a “buy”.

What is RNG’s price target for the next 12 months?

Analysts predict a range of price targets between $300.00 and $480.00, with a median target of $400.00. Taking a look at these predictions, the average price target given by analysts for RingCentral Inc. (RNG) stock is $401.23.

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