RingCentral Price Target Lowered to $25.00 at Northland Securities (RNG)
Analysts at Northland Securities decreased their price target on shares of RingCentral (NYSE:RNG) from $26.00 to $25.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ price target would suggest a potential upside of 64.91% from the company’s current price.
Shares of RingCentral (NYSE:RNG) traded up 4.41% on Wednesday, hitting $15.16. The stock had a trading volume of 2,166,022 shares. RingCentral has a one year low of $12.90 and a one year high of $23.65. The stock has a 50-day moving average of $17. and a 200-day moving average of $18.49. The company’s market cap is $973.9 million.
RingCentral (NYSE:RNG) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.16) by $0.01. The company had revenue of $48.26 million for the quarter, compared to the consensus estimate of $47.05 million. The company’s quarterly revenue was up 35.8% on a year-over-year basis. Analysts expect that RingCentral will post $-0.54 EPS for the current fiscal year.
A number of other firms have also recently commented on RNG. Analysts at Macquarie initiated coverage on shares of RingCentral in a research note on Thursday, March 27th. They set an “outperform” rating and a $24.00 price target on the stock. Separately, analysts at William Blair initiated coverage on shares of RingCentral in a research note on Monday, March 17th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of RingCentral in a research note on Thursday, February 20th. They set a “buy” rating and a $25.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, RingCentral currently has a consensus rating of “Buy” and an average target price of $21.00.
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