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

  • 8/10/2017 – Ringcentral was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $41.00 price target on the stock, up previously from $38.80.
  • 8/9/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Dougherty & Co. They now have a $40.00 price target on the stock, up previously from $36.00.
  • 8/8/2017 – Ringcentral was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 8/3/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $38.00 price target on the stock.
  • 8/3/2017 – Ringcentral was given a new $43.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.
  • 8/3/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $40.00 price target on the stock, up previously from $35.00.
  • 8/3/2017 – Ringcentral had its price target raised by analysts at Dougherty & Co from $36.00 to $40.00. They now have a “buy” rating on the stock.
  • 8/3/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Summit Redstone. They now have a $40.00 price target on the stock, up previously from $36.00.
  • 7/28/2017 – Ringcentral was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/20/2017 – Ringcentral was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $33.00 price target on the stock, down previously from $37.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/19/2017 – Ringcentral was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/13/2017 – Ringcentral had its price target raised by analysts at Oppenheimer Holdings, Inc. from $33.00 to $45.00.
  • 7/2/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $38.00 price target on the stock.
  • 6/26/2017 – Ringcentral is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $47.00 price target on the stock.
  • 6/25/2017 – Ringcentral had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $44.00 price target on the stock.
  • 6/23/2017 – Ringcentral had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $37.00 price target on the stock.

Shares of Ringcentral, Inc. (NYSE RNG) opened at 39.20 on Wednesday. The firm’s market cap is $3.00 billion. Ringcentral, Inc. has a 12-month low of $19.35 and a 12-month high of $43.05. The firm’s 50-day moving average is $36.28 and its 200-day moving average is $31.42.

Ringcentral (NYSE:RNG) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $119.40 million for the quarter, compared to analyst estimates of $118.19 million. During the same period in the prior year, the company posted $0.02 EPS. Ringcentral’s quarterly revenue was up 30.1% on a year-over-year basis. Equities analysts expect that Ringcentral, Inc. will post $0.17 earnings per share for the current fiscal year.

In other Ringcentral news, EVP Kira Makagon sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $33.66, for a total value of $336,600.00. Following the transaction, the executive vice president now directly owns 180,938 shares of the company’s stock, valued at approximately $6,090,373.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vladimir Shmunis sold 88,454 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $34.17, for a total value of $3,022,473.18. Following the completion of the transaction, the chief executive officer now directly owns 386,279 shares in the company, valued at $13,199,153.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 358,251 shares of company stock worth $12,643,495. 14.53% of the stock is currently owned by corporate insiders.

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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