Ringcentral (RNG) Receives Price Target

Ringcentral (RNG) : 9 Wall Street analysts covering Ringcentral (RNG) believe that the average level the stock could reach for the short term is $27.89. The maximum price target given is $32 and the minimum target for short term is around $24, hence the standard deviation is calculated at $2.67.

Ringcentral (RNG) : Zacks Investment Research ranks Ringcentral (RNG) as 3, which is a Hold recommendation. 8 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 10 research analysts is 1.4, which indicates as a Strong Buy.


Also, Baird initiates coverage on Ringcentral (NYSE:RNG). Baird has a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $24 per share. The rating by the firm was issued on August 25, 2016.

Ringcentral (NYSE:RNG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.80 and $21.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.15, notching a gain of 0.91% for the day. The total traded volume was 306,931 . The stock had closed at $21.95 on the previous day.

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.

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