RingCentral (RNG) Earns Media Sentiment Rating of 0.02
Media stories about RingCentral (NYSE:RNG) have trended somewhat positive recently, Accern Sentiment Analysis reports. Accern scores the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. RingCentral earned a news impact score of 0.02 on Accern’s scale. Accern also gave media headlines about the software maker an impact score of 45.3540045932818 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
RingCentral (NYSE RNG) traded down $0.55 on Thursday, reaching $48.30. The company had a trading volume of 160,400 shares, compared to its average volume of 650,004. RingCentral has a 1 year low of $20.55 and a 1 year high of $49.95. The firm has a market cap of $3,780.00, a price-to-earnings ratio of -134.17 and a beta of 0.80.
RingCentral (NYSE:RNG) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. RingCentral had a negative return on equity of 17.97% and a negative net margin of 5.80%. The firm had revenue of $129.76 million for the quarter, compared to analyst estimates of $126.06 million. During the same quarter in the prior year, the company earned $0.03 EPS. RingCentral’s revenue was up 34.0% on a year-over-year basis. research analysts anticipate that RingCentral will post -0.33 EPS for the current year.
A number of equities analysts have recently weighed in on RNG shares. Northland Securities reiterated an “outperform” rating and set a $46.00 price target (up from $43.00) on shares of RingCentral in a report on Tuesday, October 3rd. Zacks Investment Research upgraded RingCentral from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, October 4th. Jefferies Group reiterated a “buy” rating and set a $48.00 price target on shares of RingCentral in a report on Thursday, October 19th. Bank of America increased their price target on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Oppenheimer increased their price target on RingCentral from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $45.14.
In other RingCentral news, CFO Mitesh Dhruv sold 3,000 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $43.72, for a total value of $131,160.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David Sipes sold 15,270 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $49.06, for a total value of $749,146.20. Following the completion of the sale, the chief operating officer now directly owns 280,781 shares in the company, valued at approximately $13,775,115.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 320,742 shares of company stock worth $14,899,840. 14.53% of the stock is 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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