Recent Research Analysts’ Ratings Updates for RingCentral (RNG)

Several analysts have recently updated their ratings and price targets for RingCentral (NYSE: RNG):

  • 2/13/2018 – RingCentral had its price target raised by analysts at Oppenheimer Holdings Inc. from $60.00 to $66.00. They now have an “outperform” rating on the stock.
  • 2/13/2018 – RingCentral had its price target raised by analysts at JPMorgan Chase & Co. from $52.00 to $60.00. They now have a “neutral” rating on the stock.
  • 2/13/2018 – RingCentral was given a new $60.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 2/13/2018 – RingCentral had its “buy” rating reaffirmed by analysts at Stephens. They now have a $60.00 price target on the stock.
  • 2/13/2018 – RingCentral had its price target raised by analysts at SunTrust Banks, Inc. to $60.00. They now have a “buy” rating on the stock.
  • 2/13/2018 – RingCentral had its price target raised by analysts at Craig Hallum from $50.00 to $65.00. They now have a “buy” rating on the stock.
  • 2/13/2018 – RingCentral was given a new $61.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.
  • 2/13/2018 – RingCentral had its price target raised by analysts at Bank of America Corp from $57.00 to $67.00. They now have a “buy” rating on the stock.
  • 2/12/2018 – RingCentral was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.

Shares of RingCentral Inc (NYSE:RNG) opened at $57.85 on Thursday. RingCentral Inc has a 1 year low of $23.90 and a 1 year high of $58.85. The firm has a market capitalization of $4,126.68, a P/E ratio of -170.14 and a beta of 0.87.

RingCentral (NYSE:RNG) last issued its earnings results on Monday, February 12th. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.50 million during the quarter, compared to the consensus estimate of $136.34 million. RingCentral had a negative return on equity of 17.15% and a negative net margin of 5.21%. The company’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. research analysts predict that RingCentral Inc will post -0.28 EPS for the current year.

In other news, CEO Vladimir Shmunis sold 48,666 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $47.12, for a total transaction of $2,293,141.92. Following the completion of the transaction, the chief executive officer now directly owns 355,041 shares of the company’s stock, valued at approximately $16,729,531.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Praful Shah sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $48.61, for a total value of $486,100.00. Following the transaction, the insider now directly owns 296,050 shares of the company’s stock, valued at $14,390,990.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,934 shares of company stock valued at $11,112,262. Company 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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