The Stock Of The Week: RingCentral Inc. (RNG)

As of Friday close, RingCentral Inc.’s (NYSE:RNG) stock was down -$1.25, moving down -2.55 percent to $47.75. The average number of shares traded per day over the past five days has been 3,528,100 shares. 3 times new highs have been achieved over the past 5 days, with a -$1.74 fall in that time frame. In the last twenty days, the average volume was 2,037,330, while in the previous 50 days, it was 2,057,764.

Since last month, RNG stock retreated -19.48%. Shares of the company fell to $47.28 on 07/29/22, the lowest level in the past month. A 52-week high of $315.00 was reached on 01/12/22 after having rallying from a 52-week low of $47.28. Since the beginning of this year, RNG’s stock price has dropped by -74.51% or -$139.60, and marked a new high 2 times. However, the stock has declined by -84.84% since its 52-week high.

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RingCentral Inc. (RNG) last reported insider trading activity 53 days ago on Jun 14. Shmunis Vladimir, the CEO & Chairman of the company, purchased of 10,000 shares for $50.07 on Jun 14. It resulted in a $500,730 investment by the insider. Parekh Sonalee Elizabeth sold 15,360 shares at an average price of $62.69 on Jun 02. The insider now owns 113,528 shares following the transaction. On May 27, SVP, CAO & General Counsel Marlow John H sold 7,320 shares at $65.34 apiece. The transaction was valued at $478,289.

Valuation Metrics

The stock’s beta is 0.98. Besides these, the trailing price-to-sales (P/S) ratio of 2.84, the price-to-book (PB) ratio of 91.83, and the price-to-cash flow ratio of 32.99 may also be considered.

Financial Health

In the three months ended June 29, RingCentral Inc.’s quick ratio stood at 1.20, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 33.51. On the profitability front, the trailing twelve-month gross margin is 70.40% percent. In the year ended June 29, operating margins totaled -21.20%. Based on annual data, RNG earned $1.15 billion in gross profit and brought in $1.59 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -17.50%. Return on equity (ROE) for the past 12 months was -401.30%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RNG’s revenue rose 24.65% to $448.5 million during the quarter, while net income inched up to $467.66 million. While analysts expected RingCentral Inc. to report $0.4 quarterly earnings, the actual figure was $0.45 per share, beating the consensus estimate by 12.50%. During the quarter, the company generated -$18.32 million in EBITDA. The liabilities of RingCentral Inc. were 2.52 billion at the end of its most recent quarter ended June 29, and its total debt was $1.68 billion. The value of shareholders’ equity is $94.9 million.

Technical Picture

This quick technical analysis looks at RingCentral Inc.’s (RNG) price momentum. With a historical volatility rate of 71.53%, the RSI 9-day stood at 39.07% on 05 August.

With respect to its five-day moving average, the current RingCentral Inc. price is down by -3.52% percent or -$1.74. At present, RNG shares trade -16.11% below its 20-day simple moving average and -52.08% percent below its 100-day simple moving average. However, the stock is currently trading approximately -17.54% below its SMA50 and -80.40% below its SMA200.

Stochastic coefficient K was 21.46% and Stochastic coefficient D was 24.71%, while ATR was 3.85. Given the Stochastic reading of 3.81% for the 14-day period, the RSI (14) reading has been calculated as 41.35%. As of today, the MACD Oscillator reading stands at -0.60, while the 14-day reading stands at -2.50.

Analyst Ratings

MKM Partners launched its rating on RingCentral Inc. (NYSE: RNG) to a Buy in a note to investors on August 04, 2022. RingCentral Inc. (RNG) has been rated Buy by analysts. According to 0 brokerage firms, RNG is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate RingCentral Inc. stock as buy, with 21 recommending it as overweight.

With a median target price of $80.00, the current consensus forecast for the stock is $58.00 – $120.00. Based on these forecasts, analysts predict RingCentral Inc. (RNG) will achieve an average price target of $84.44.


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