RingCentral Receives Consensus Rating of “Buy” from Analysts (NYSE:RNG)
Shares of RingCentral (NYSE:RNG) have been given an average rating of “Buy” by the nine analysts that are covering the company, StockRatingsNetwork reports. Eight equities research analysts have rated the stock with a buy rating, The average 12-month target price among brokers that have issued a report on the stock in the last year is $20.78.
Shares of RingCentral (NYSE:RNG) opened at 14.03 on Wednesday. RingCentral has a 52 week low of $11.33 and a 52 week high of $23.65. The stock’s 50-day moving average is $14.47 and its 200-day moving average is $16.56. The company’s market cap is $949.1 million.
RingCentral (NYSE:RNG) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.14) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.15) by $0.01. The company had revenue of $52.80 million for the quarter, compared to the consensus estimate of $51.10 million. RingCentral’s revenue was up 40.1% compared to the same quarter last year. On average, analysts predict that RingCentral will post $-0.52 earnings per share for the current fiscal year.
RNG has been the subject of a number of recent research reports. Analysts at Oppenheimer initiated coverage on shares of RingCentral in a research note on Wednesday. They set an “outperform” rating and a $20.00 price target on the stock. Analysts at Goldman Sachs cut their price target on shares of RingCentral from $26.00 to $20.00 in a research note on Thursday, May 22nd.
In other RingCentral news, Director David Weiden sold 40,000 shares of RingCentral stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $14.02, for a total transaction of $560,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
RingCentral, Inc is a provider of software-as-a-service (NYSE:RNG) solutions for business communications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.