Ringcentral (RNG) : The consensus on Ringcentral (RNG) based on 10 analyst recommendation on the company stock is 1.2, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Ringcentral (RNG) : The highest short term price target forecast on Ringcentral (RNG) is $32 and the lowest target price is $25. A total of 9 equity analysts are currently covering the company. The average price of all the analysts is $28.22 with a standard deviation of $2.28.
For the current week, the company shares have a recommendation consensus of Buy. Ringcentral (NYSE:RNG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.48 and $23.24 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.53, notching a gain of 0.99% for the day. The total traded volume was 310,698 . The stock had closed at $23.30 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Shah Praful, officer (SVP, Strategy) of Ringcentral Inc, had unloaded 10,000 shares at an average price of $23.19 in a transaction dated on August 1, 2016. The total value of the transaction was worth $231,900.
RingCentral, Inc. is a provider of software-as-a-service (SaaS) solutions for business communications. The Companys products are RingCentral Office, RingCentral Professional and RingCentral Fax, which it sells as monthly subscriptions to its customers. The Companys 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.