RingCentral Inc. (NYSE:RNG)’s share price traded up 2.6% during mid-day trading on Thursday . The stock traded as high as $20.51 and last traded at $20.00, with a volume of 140,264 shares trading hands. The stock had previously closed at $19.50.

A number of equities analysts have weighed in on the stock. Oppenheimer Holdings Inc. restated a “buy” rating on shares of RingCentral in a research report on Thursday, April 28th. Craig Hallum assumed coverage on shares of RingCentral in a research report on Thursday. They set a “buy” rating and a $25.00 price objective for the company. Jefferies Group restated a “buy” rating on shares of RingCentral in a research report on Sunday, May 29th. Summit Research assumed coverage on shares of RingCentral in a research report on Tuesday, June 28th. They set a “buy” rating for the company. Finally, Stephens assumed coverage on shares of RingCentral in a research report on Wednesday, May 18th. They set an “overweight” rating for the company. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $25.33.

The stock’s market capitalization is $1.47 billion. The stock’s 50 day moving average price is $19.90 and its 200 day moving average price is $19.14.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm earned $83.90 million during the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 33.8% on a year-over-year basis. On average, equities research analysts expect that RingCentral Inc. will post $0.05 EPS for the current fiscal year.

In other RingCentral news, EVP David Sipes sold 15,025 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $20.78, for a total value of $312,219.50. Following the completion of the sale, the executive vice president now owns 155,804 shares of the company’s stock, valued at $3,237,607.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Praful Shah sold 10,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $19.66, for a total value of $196,600.00. The disclosure for this sale can be found here.

A number of large investors have added to or reduced their stakes in the stock. Century Capital Management LLC acquired a new stake in RingCentral during the fourth quarter worth approximately $15,143,000. Royce & Associates LLC purchased a new position in RingCentral during the fourth quarter valued at about $3,325,000. Wells Fargo & Company MN increased its position in RingCentral by 73.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,323,181 shares of the company’s stock valued at $31,201,000 after buying an additional 560,180 shares during the period. Morgan Stanley increased its position in RingCentral by 68.6% in the fourth quarter. Morgan Stanley now owns 203,394 shares of the company’s stock valued at $4,796,000 after buying an additional 82,777 shares during the period. Finally, New York State Common Retirement Fund increased its position in RingCentral by 8.0% in the fourth quarter. New York State Common Retirement Fund now owns 52,800 shares of the company’s stock valued at $1,245,000 after buying an additional 3,900 shares during the period.

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for business 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 voice, text, team messaging collaboration, high definition (HD) video for Web conferencing and fax.

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