RingCentral Inc (RNG) was Initiated by Robert W. Baird to “Neutral” and the brokerage firm has set the Price Target at $24. Robert W. Baird advised their investors in a research report released on Aug 26, 2016.
Many Wall Street Analysts have commented on RingCentral Inc. Craig Hallum Initiated RingCentral Inc on Jul 7, 2016 to “Buy”, Price Target of the shares are set at $25.
On the company’s financial health, RingCentral Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.01. The company had revenue of $91.80 million for the quarter, compared to analysts expectations of $87.54 million. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.
RingCentral Inc opened for trading at $22.26 and hit $23.03 on the upside on Tuesday, eventually ending the session at $22.92, with a gain of 0.09% or 0.02 points. The heightened volatility saw the trading volume jump to 5,26,902 shares. Company has a market cap of $1,675 M.
In a different news, on Aug 24, 2016, David Sipes (Chief Operating Officer) sold 2,253 shares at $22.31 per share price. According to the SEC, on Aug 24, 2016, Kira Makagon (EVP, Innovation) sold 3,118 shares at $22.30 per share price. On Aug 3, 2016, Praful Shah (SVP, Strategy) sold 10,000 shares at $23.19 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.