Recent Analysts’ Ratings Updates for RingCentral (RNG)

Several brokerages have updated their recommendations and price targets on shares of RingCentral (NYSE: RNG) in the last few weeks:

  • 7/2/2017 – RingCentral had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $38.00 price target on the stock.
  • 6/26/2017 – RingCentral is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $47.00 price target on the stock.
  • 6/25/2017 – RingCentral had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $44.00 price target on the stock.
  • 6/23/2017 – RingCentral had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $37.00 price target on the stock.
  • 5/26/2017 – RingCentral had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $38.00 price target on the stock.
  • 5/22/2017 – RingCentral had its “outperform” rating reaffirmed by analysts at William Blair.

RingCentral Inc (NYSE RNG) traded down 0.14% during mid-day trading on Monday, reaching $36.95. The company’s stock had a trading volume of 197,603 shares. RingCentral Inc has a one year low of $19.35 and a one year high of $39.00. The firm’s 50 day moving average is $35.28 and its 200-day moving average is $28.12. The stock’s market cap is $2.78 billion.

RingCentral (NYSE:RNG) last announced its earnings results on Tuesday, April 25th. The software maker reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The company had revenue of $111.80 million during the quarter, compared to the consensus estimate of $110.35 million. RingCentral had a negative net margin of 6.54% and a negative return on equity of 22.17%. RingCentral’s revenue was up 29.2% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. Equities analysts expect that RingCentral Inc will post $0.16 earnings per share for the current fiscal year.

In other news, CAO John H. Marlow sold 3,000 shares of RingCentral stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $28.70, for a total transaction of $86,100.00. Following the completion of the sale, the chief accounting officer now directly owns 139,007 shares in the company, valued at $3,989,500.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO John H. Marlow sold 6,000 shares of RingCentral stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $28.90, for a total transaction of $173,400.00. Following the sale, the chief accounting officer now owns 139,007 shares of the company’s stock, valued at $4,017,302.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 478,251 shares of company stock valued at $16,054,685. 14.53% of the stock is owned by insiders.

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

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