Ringcentral (RNG) Given Coverage Optimism Rating of 0.11
Headlines about Ringcentral (NYSE:RNG) have trended somewhat positive recently, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ringcentral earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 45.0371950968698 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the media stories that may have effected Accern’s scoring:
- Insider Selling: Ringcentral, Inc. (RNG) CAO Sells 7,946 Shares of Stock (americanbankingnews.com)
- Vladimir Shmunis Sells 101,452 Shares of Ringcentral, Inc. (RNG) Stock (americanbankingnews.com)
- Ringcentral, Inc. (RNG) CFO Mitesh Dhruv Sells 3,000 Shares (americanbankingnews.com)
- Insider Selling: Ringcentral, Inc. (RNG) COO Sells 13,800 Shares of Stock (americanbankingnews.com)
- Insider Selling: Ringcentral, Inc. (RNG) Insider Sells 10,000 Shares of Stock (americanbankingnews.com)
A number of equities research analysts have recently issued reports on the company. BidaskClub raised Ringcentral from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Stephens reaffirmed an “overweight” rating and set a $44.00 target price on shares of Ringcentral in a research report on Sunday, June 25th. Northland Securities reaffirmed a “buy” rating and set a $37.00 target price on shares of Ringcentral in a research report on Friday, June 23rd. Oppenheimer Holdings, Inc. boosted their target price on Ringcentral from $33.00 to $45.00 in a research report on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Ringcentral in a research report on Sunday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Ringcentral presently has an average rating of “Buy” and an average price target of $39.17.
Ringcentral (NYSE:RNG) opened at 39.70 on Wednesday. The company’s 50-day moving average price is $36.76 and its 200 day moving average price is $32.18. The firm’s market capitalization is $3.04 billion. Ringcentral has a 52-week low of $19.35 and a 52-week high of $43.05.
Ringcentral (NYSE:RNG) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. The firm had revenue of $119.40 million for the quarter, compared to analyst estimates of $118.19 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. Equities analysts predict that Ringcentral will post $0.17 earnings per share for the current fiscal year.
In related news, CEO Vladimir Shmunis sold 101,452 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $38.20, for a total value of $3,875,466.40. Following the sale, the chief executive officer now owns 355,041 shares in the company, valued at approximately $13,562,566.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO John H. Marlow sold 7,946 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $39.20, for a total transaction of $311,483.20. Following the completion of the sale, the chief accounting officer now owns 135,047 shares in the company, valued at approximately $5,293,842.40. The disclosure for this sale can be found here. Insiders sold a total of 362,198 shares of company stock worth $13,458,092 in the last 90 days. 14.53% of the stock is currently owned by company insiders.
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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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