RingCentral Inc (RNG) is Initiated by Craig Hallum to Buy, Price Target at $25

RingCentral Inc (RNG) was Initiated by Craig Hallum to “Buy” and the brokerage firm has set the Price Target at $25. Craig Hallum advised their investors in a research report released on Jul 7, 2016.

On the company’s financial health, RingCentral Inc reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.00. The company had revenue of $83.90 million for the quarter, compared to analysts expectations of $81.19 million. The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

RingCentral Inc closed down -0.3 points or -1.53% at $19.37 with 3,16,441 shares getting traded on Tuesday. Post opening the session at $19.62, the shares hit an intraday low of $19.15 and an intraday high of $19.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jul 6, 2016, John H Marlow (SVP & General Counsel) sold 2,000 shares at $19.35 per share price. According to the SEC, on Jul 6, 2016, Praful Shah (SVP, Strategy) sold 10,000 shares at $19.66 per share price. On Jun 15, 2016, Kira Makagon (EVP, Innovation) sold 10,000 shares at $20.43 per share price, according to the Form-4 filing with the securities and exchange commission.

RingCentral Inc. is a provider of software-as-a-service (SaaS) solutions for business communications. The Company’s products are RingCentral Office RingCentral Professional and RingCentral Fax which it sells as monthly subscriptions to its customers. The Company’s flagship product RingCentral Office is a multi-location multi-user enterprise-grade communications solution that enables employees to communicate through different channels and on multiple devices. RingCentral Professional is an inbound call routing subscription with additional text and fax capabilities targeting smaller deployments. RingCentral Fax is an Internet fax subscription that permits sending and receiving faxes over the Internet.

RingCentral Inc

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