News stories about RingCentral (NYSE:RNG) have been trending somewhat negative on Friday, according to Alpha One Sentiment Analysis. The research group, a subsidiary of Accern, identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real-time. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. RingCentral earned a daily sentiment score of -0.06 on Alpha One’s scale. Alpha One also gave news stories about the software maker an impact score of 50 out of 100, indicating that recent media coverage is somewhat likely to have an effect on the stock’s share price in the near term.
Shares of RingCentral (NYSE:RNG) traded up 3.38% during mid-day trading on Friday, hitting $33.65. The company had a trading volume of 526,583 shares. The firm has a 50-day moving average of $30.38 and a 200-day moving average of $25.17. The company’s market cap is $2.53 billion. RingCentral has a 12 month low of $18.11 and a 12 month high of $33.95.
RingCentral (NYSE:RNG) last released its earnings results on Tuesday, April 25th. The software maker reported ($0.09) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The firm had revenue of $111.80 million during the quarter, compared to analyst estimates of $110.35 million. RingCentral had a negative return on equity of 20.77% and a negative net margin of 7.72%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, analysts expect that RingCentral will post $0.16 EPS for the current year.
A number of brokerages have weighed in on RNG. CIBC raised their price objective on RingCentral from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, May 2nd. Jefferies Group LLC raised their target price on RingCentral from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $33.00 target price (up from $32.00) on shares of RingCentral in a research note on Monday, May 1st. Dougherty & Co assumed coverage on RingCentral in a research note on Wednesday, April 26th. They issued a “buy” rating and a $36.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of RingCentral in a research note on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. RingCentral currently has a consensus rating of “Buy” and an average target price of $30.78.
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In related news, CFO Clyde Hosein sold 200,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 273,691 shares in the company, valued at $8,780,007.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mckenna Michelle sold 14,488 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $26.44, for a total value of $383,062.72. Following the completion of the transaction, the director now owns 10,595 shares of the company’s stock, valued at $280,131.80. The disclosure for this sale can be found here. Insiders sold 241,903 shares of company stock valued at $7,548,405 over the last quarter. 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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