Ringcentral (NYSE: RNG) recently received a number of ratings updates from brokerages and research firms:

  • 10/19/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $48.00 price target on the stock.
  • 10/18/2017 – Ringcentral was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “RingCentral, Inc. provides solutions for business communications primarily in the United States. The Company’s products include RingCentral Office, RingCentral Mobile and RingCentral Fax. It provides solutions such as auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers and elegant integration with Smartphones. RingCentral, Inc. is headquartered in San Mateo, California. “
  • 10/4/2017 – Ringcentral was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $49.00 price target on the stock. According to Zacks, “RingCentral, Inc. provides solutions for business communications primarily in the United States. The Company’s products include RingCentral Office, RingCentral Mobile and RingCentral Fax. It provides solutions such as auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers and elegant integration with Smartphones. RingCentral, Inc. is headquartered in San Mateo, California. “
  • 10/3/2017 – Ringcentral had its “outperform” rating reaffirmed by analysts at Northland Securities. They now have a $46.00 price target on the stock, up previously from $43.00.

Shares of Ringcentral, Inc. (RNG) traded down 0.881% during mid-day trading on Monday, reaching $42.175. The company had a trading volume of 37,771 shares. The stock’s market capitalization is $3.23 billion. Ringcentral, Inc. has a 12-month low of $19.35 and a 12-month high of $44.95. The firm’s 50 day moving average is $42.12 and its 200-day moving average is $36.58.

Ringcentral (NYSE:RNG) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Ringcentral had a negative return on equity of 19.59% and a negative net margin of 6.77%. The firm had revenue of $119.40 million for the quarter, compared to analyst estimates of $118.19 million. During the same quarter last year, the company earned $0.02 EPS. The company’s revenue was up 30.1% on a year-over-year basis. On average, analysts expect that Ringcentral, Inc. will post $0.17 earnings per share for the current fiscal year.

In other news, COO David Sipes sold 3,000 shares of Ringcentral stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $44.01, for a total value of $132,030.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Praful Shah sold 10,000 shares of Ringcentral stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $37.98, for a total value of $379,800.00. Following the completion of the transaction, the insider now owns 300,176 shares in the company, valued at approximately $11,400,684.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,106 shares of company stock worth $15,665,035. Corporate insiders own 14.53% of the company’s stock.

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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