RingCentral Inc. (NYSE:RNG) finished Friday with a subtraction of -$0.1 to close at $248.04, a downside of -0.04 percent. An average of 925,600 shares of common stock have been traded in the last five days. There was a gain of $12.68 in the past week, and it reached a new high 24 times over the past 12 months. The last 20 days have seen an average of 1,182,380 shares traded, while the 50-day average volume stands at 1,149,542.
RNG stock has increased by 11.10% 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. It has reached a new high 11 times so far this year and lost -34.55% or -$130.93 in price. In spite of this, the price is down -44.76% from the 52-week high.
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1 day have passed since RingCentral Inc. (RNG) last reported insider trading activity. Agarwal Vaibhav, who is Chief Accounting Officer, most recently acquired $83 shares at $250.00 per share on Oct 22. In this transaction, the insider spent $20,750. Chief Accounting Officer, Agarwal Vaibhav, disposed of 274 shares at a price of $250.00 on Oct 21. The insider now owns more than $68,500 worth of shares. Prior to that, CEO & Chairman Shmunis Vladimir went on to Sale 10,000 shares at $249.05 each on Oct 21. An amount of $2,490,494 was transacted.
RingCentral Inc. (RNG) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 38.99 for the sector. The stock’s beta is 0.68. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 16.70, the price-to-book (PB) ratio at 245.58.
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. 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%. For the broader industry, ROE averaged 3.34 over the past year.
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$110.96 million in the quarter, while revenues were grew 100.46%. 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.
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 22 October was 69.56%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.23%.
As of today, RNG’s price is $244.59 +5.39% or $12.68 from its 5-day moving average. RNG is currently trading +11.66% higher than its 20-day SMA and -3.19% lower than its 100-day SMA. However, the stock’s current price level is -1.61% below the SMA50 and -36.21% below the SMA200.
The stochastic %K and %D were 87.72% and 90.06%, respectively, and the average true range (ATR) was 8.74. With the 14-day stochastic at 87.93% and the average true range at 8.79, the RSI (14) stands at 62.38%. The stock has reached 6.29 on the 9-day MACD Oscillator while the 14-day reading was at 13.66.
Barclays launched coverage on RingCentral Inc. (NYSE: RNG) in its analyst report released on October 21, 2021. The firm assigned the stock a an Overweight rating. 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 1 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 $394.00.