RingCentral Inc. (NYSE:RNG) went down by -1.74% during the previous trading session, and it is maintaining the win ahead of Wednesday’s trading session. The share price of the Software – Application giant went up by $272.57 to trade ended Wednesday trading at $277.41. This is down from the $277.41 price recorded on Tuesday’s trading session. Thanks to this latest performance, RNG is closer to the higher price 52-week target of $315.00 and further from the lowest price target of $245.00. Its performance from the start of the year has also been positive, with RNG up by 61.60% year-to-date.
RingCentral Inc. (RNG) started the day trading at $280 and recorded an intraday high of $285.72. It also recorded an intraday low of $269.84 during Wednesday’s trading session. RingCentral Inc. is a very active stock that recorded a trading volume that is less than -12.55% of the average daily trading volume on Wednesday. The stock’s trading volume on Wednesday was 1243906, which is less than -12.55 of the total average daily trading volume of 1.40 million.
RingCentral Inc. (NYSE:RNG) 2020 Performance Impressive
The increase in RNG’s stock price on Wednesday saw its overall performance boost over the past few months. We can quantify the performance of the stock so far this year using a few metrics. The 52-week high price of RNG currently stands at $292.48, which is higher than the current trading price of the stock by 6.81%. However, RNG’s current trading price is -147.03% lower than the 52-week low price of $110.34. In terms of trading volume, RingCentral Inc. currently experienced healthy participation during the last trading session. 1243906 shares of RingCentral Inc. were traded on the stock exchange on Wednesday, which is less than -12.55% of the 1.40 million average trading volume of the stock.
The performance of the stock has been positive over the past year. RNG’s performance over the past one year has seen it surge by 131.27%, while the stock has gone up by 64.53% in the last six months. The quarterly performance of RNG currently stands at 65.58%, and it is up by 3.62% in the last month. The only negative figure was from the weekly performance, which currently reads -0.87%. At the time of writing RNG’s report, the company has a total market cap of $23.53B, making it one of the largest publicly-traded companies in the world.RingCentral Inc. also has over 2363 employees all over the world.
RNG Insider Activities
For RingCentral Inc., insiders hold 99.00% of all company shares. The insider transactions over the past six months are up by 23.60%. During that period, insiders bought 556,516 shares in 45 transactions. In that same period, insiders sold 392,880 of their shares in 318 transactions. After these transactions, insiders at RingCentral Inc. now hold 1.49M shares, which is over 98.43% of the total company stocks. Institutional investors currently hold a large chunk of the RNG shares, as they control 1.70% of the company’s total stock.
RNG Fundamental Analysis
For RingCentral Inc., the stock’s diluted earnings per share (EPS) stands at -1.26. In the coming year, analysts expect the EPS to be 1.20. The EPS growth will up over the next five years to 20.00% after surging by 2.30% in the previous five years. In terms of revenue, RingCentral Inc.’s quarterly sales (YOY) is growing at 0.20, which is lower than the average annual revenue of 2.30% over the past half a decade.
The Return on Investment (ROI) on RingCentral Inc.’s stock currently stands at -3.70%, and it has a net profit margin of -11.10%. The operating margin of the company is -6.60%, and its gross margin is 73.80%.
RNG Analysts Prediction
Dougherty & Company reiterate their Buy position on the stock ($200 and $230)
Needham and Needham also believe that RingCentral Inc.’s stock is outperforming at the moment. RNG received a positive rating from Needham, which set a price target of $190-$220 for the stock. Three analysts, Wells Fargo, Wells Fargo, and Piper Jaffray, all rate the stock as overweight.
RNG Technical Analysis
The Simple Moving Average (SMA) is one of the most powerful technical indicators. The 20-day Simple Moving Average of RNG currently stands at 3.27%, while the SMA50 is 9.13%. The biggest one is the SMA200, which is currently reading 39.01% ahead of Wednesday’s trading session. The Relative Strength Index of this stock is 53.80.