Media headlines about Ringcentral (NYSE:RNG) have been trending somewhat positive recently, according to Accern. Accern identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ringcentral earned a coverage optimism score of 0.17 on Accern’s scale. Accern also gave media coverage about the software maker an impact score of 66 out of 100, indicating that recent press coverage is likely to have an impact on the company’s share price in the immediate future.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:
- First Week of RNG August 18th Options Trading (stockoptionschannel.com)
- Ringcentral, Inc. (RNG) Given Consensus Recommendation of “Buy” by Analysts (americanbankingnews.com)
- ETFs with exposure to RingCentral, Inc. : June 16, 2017 (finance.yahoo.com)
- Vlad Shmunis Builds RingCentral To Disrupt $143 Billion Unified Communications Market (finance.yahoo.com)
- RingCentral, Inc. :RNG-US: Earnings Analysis: Q1, 2017 By the Numbers : June 15, 2017 (finance.yahoo.com)
Ringcentral (RNG) traded up 2.141% on Wednesday, reaching $36.975. The company had a trading volume of 299,411 shares. The company has a 50-day moving average of $34.29 and a 200 day moving average of $27.44. Ringcentral has a one year low of $18.54 and a one year high of $38.50. The stock’s market cap is $2.78 billion.
Ringcentral (NYSE:RNG) last released its quarterly earnings data on Tuesday, April 25th. The software maker reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). Ringcentral had a negative return on equity of 20.12% and a negative net margin of 7.41%. The company had revenue of $111.80 million for the quarter, compared to analyst estimates of $110.35 million. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue was up 29.2% compared to the same quarter last year. On average, equities research analysts predict that Ringcentral will post $0.16 EPS for the current year.
A number of research firms recently issued reports on RNG. Jefferies Group LLC boosted their price objective on Ringcentral from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, February 27th. William Blair restated an “outperform” rating on shares of Ringcentral in a research report on Thursday, February 23rd. CIBC boosted their price objective on Ringcentral from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, April 7th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $32.00 price objective (up previously from $29.00) on shares of Ringcentral in a research report on Thursday, April 6th. Finally, Morgan Stanley upgraded Ringcentral from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Ringcentral has a consensus rating of “Buy” and a consensus price target of $30.78.
In other news, CFO Clyde Hosein sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $32.08, for a total value of $6,416,000.00. Following the sale, the chief financial officer now directly owns 273,691 shares in the company, valued at approximately $8,780,007.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO John H. Marlow sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $28.70, for a total value of $86,100.00. Following the completion of the sale, the chief accounting officer now owns 139,007 shares in the company, valued at $3,989,500.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 478,251 shares of company stock worth $16,054,685. Corporate insiders own 17.34% of the company’s stock.
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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