Media coverage about Ringcentral (NYSE:RNG) has been trending somewhat positive on Saturday, Accern Sentiment reports. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ringcentral earned a news impact score of 0.11 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 44.9932144274623 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the media stories that may have effected Accern’s rankings:
- $125.95 Million in Sales Expected for Ringcentral, Inc. (RNG) This Quarter (americanbankingnews.com)
- Ringcentral, Inc. Class A (NYSE:RNG) Stock Traded Much Higher Than Its 50 Day Average (highlightpress.com)
- R Neil Williams Sells 22,000 Shares of Ringcentral, Inc. (RNG) Stock (americanbankingnews.com)
- Ringcentral, Inc. (RNG) Raised to Buy at BidaskClub (americanbankingnews.com)
- Ringcentral, Inc. to Post FY2019 Earnings of ($0.21) Per Share, SunTrust Banks Forecasts (NYSE:RNG) (americanbankingnews.com)
Ringcentral (NYSE:RNG) opened at 38.25 on Friday. The firm has a 50-day moving average price of $36.42 and a 200 day moving average price of $31.63. The company’s market capitalization is $2.93 billion. Ringcentral has a 1-year low of $19.35 and a 1-year high of $43.05.
Ringcentral (NYSE:RNG) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The business had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $118.19 million. Ringcentral had a negative return on equity of 19.59% and a negative net margin of 6.77%. The business’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. On average, equities analysts predict that Ringcentral will post $0.17 EPS for the current year.
RNG has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. boosted their target price on Ringcentral from $33.00 to $45.00 in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $38.00 target price on shares of Ringcentral in a research report on Sunday, July 2nd. SunTrust Banks, Inc. started coverage on shares of Ringcentral in a research report on Monday, June 26th. They set a “buy” rating and a $47.00 price target for the company. Northland Securities reaffirmed a “buy” rating and set a $37.00 price target on shares of Ringcentral in a research report on Friday, June 23rd. Finally, Dougherty & Co assumed coverage on shares of Ringcentral in a research report on Wednesday, April 26th. They set a “buy” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $39.17.
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In related news, Director R Neil Williams sold 22,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $39.50, for a total value of $869,000.00. Following the sale, the director now owns 6,921 shares in the company, valued at approximately $273,379.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Praful Shah sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $36.07, for a total value of $360,700.00. The disclosure for this sale can be found here. Insiders have sold 370,251 shares of company stock worth $13,175,895 in the last three months. 14.53% of the stock is currently owned by corporate insiders.
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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