RingCentral (RNG) Earns Daily News Impact Score of 0.06
Media coverage about RingCentral (NYSE:RNG) has been trending somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RingCentral earned a daily sentiment score of 0.06 on Accern’s scale. Accern also gave press coverage about the software maker an impact score of 45.7752684688822 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern’s analysis:
- Insider Selling: Ringcentral, Inc. (RNG) COO Sells 9,300 Shares of Stock (americanbankingnews.com)
- RingCentral Achieves Compliance With FINRA Cyber Security Controls and HITRUST CSF Certification (finance.yahoo.com)
- Ringcentral, Inc. (RNG) Receives Average Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- Ringcentral, Inc. (RNG) CEO Sells $2,293,141.92 in Stock (americanbankingnews.com)
- Top-Rated Stocks: RingCentral Sees Composite Rating Climb To 96 (finance.yahoo.com)
Shares of RingCentral (NYSE:RNG) traded up $1.40 during mid-day trading on Friday, reaching $48.95. 682,389 shares of the company’s stock traded hands, compared to its average volume of 523,550. RingCentral has a 1-year low of $20.55 and a 1-year high of $49.95.
Several research analysts recently weighed in on RNG shares. Oppenheimer upped their target price on shares of RingCentral from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of RingCentral from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $40.00) on shares of RingCentral in a report on Thursday, November 9th. Northland Securities reaffirmed an “outperform” rating and issued a $46.00 target price (up previously from $43.00) on shares of RingCentral in a report on Tuesday, October 3rd. Finally, Bank of America upped their target price on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.14.
In other RingCentral news, insider Praful Shah sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $41.08, for a total value of $410,800.00. Following the sale, the insider now owns 310,176 shares in the company, valued at approximately $12,742,030.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David Sipes sold 3,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $44.01, for a total transaction of $132,030.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 317,742 shares of company stock worth $14,690,590. Corporate insiders own 14.53% of the company’s stock.
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RingCentral Company Profile
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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