RingCentral, Inc. (NYSE:RNG) registered a -4.11% decrease, still its new closing price is 68.23% up from the company’s 1 year high of 25.00.It posted -0.64% losses in previous 5 sessions and is now the subject of 2 analysts who together assign a hold rating on stock. 0 of Wall Street analysts have an underperform rating; the 0 sells versus 8 buy or better ratings. The 13 stock analysts following this company have an average price target at $29.00, with individual PT in the $25.00-$32.00 range. The shares moved at $23.35, implying that brokerage firms see shares gaining about 7.01% in twelve months time.
RingCentral, Inc. (RNG) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a 13.35% rise year to date. A SVP, Strategy at RingCentral, Inc. (RNG) offloaded shares in a transaction closed on Tuesday January 03, 2017. Shah Praful sold 10,000 shares in the company at $20.97 each and collected $209,001 in proceeds. Shah Praful now owns 311,071 shares in the company after this transaction. A EVP and CFO in the company, HOSEIN CLYDE, disclosed a transaction on Wednesday December 14, 2016 that ended up generating $3,579,001 from the sale of 159,813 shares at $22.4 per share.
RingCentral, Inc. (NYSE:RNG) Upcoming Results on Tap
RingCentral, Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.03 in that period. Sales during the quarter are predicted to arrive at $106.65 million.
Earnings surprise history: Last quarter, the company posted approximately $96.84 million in revenue and EPS of $0.03. The mean forecast was for $96.15 million and $0.01 a share, respectively. One quarter earlier, revenue for the stock was at $91.84 million, with earnings at $0.02/share.
RingCentral, Inc. (RNG) Brokerage Update
RingCentral, Inc. (RNG) is in Robert W. Baird’s research list so their analyst rating change is noteworthy. These shares were upgraded to Outperform from Neutral by Robert W. Baird, according to news reported on Monday December 12, 2016.Another important research note was issued by Morgan Stanley on Thursday December 17, 2015.The firm downgraded RNG to Equal-Weight from Overweight. Over the last six months and over the last three months, the shares of RingCentral, Inc. (RNG), have changed 1.39% and 13.08%, respectively.