Ringcentral (RNG) Earning Somewhat Favorable Press Coverage, Analysis Shows
Media coverage about Ringcentral (NYSE:RNG) has been trending somewhat positive on Sunday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ringcentral earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave press coverage about the software maker an impact score of 46.2907737653785 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news stories that may have effected Accern’s rankings:
- David Sipes Sells 7,800 Shares of Ringcentral, Inc. (RNG) Stock (americanbankingnews.com)
- Ringcentral, Inc. (RNG) CAO Sells $254,580.00 in Stock (americanbankingnews.com)
- Ringcentral, Inc. (RNG) CEO Sells $253,800.00 in Stock (americanbankingnews.com)
- Ringcentral, Inc. (RNG) CEO Vladimir Shmunis Sells 6,000 Shares (americanbankingnews.com)
- Ringcentral, Inc. (RNG) CEO Sells $3,084,250.00 in Stock (americanbankingnews.com)
RNG has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Ringcentral in a report on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and set a $38.00 target price on shares of Ringcentral in a report on Friday, May 26th. Northland Securities reissued a “buy” rating and set a $37.00 target price on shares of Ringcentral in a report on Friday, June 23rd. Stephens reissued an “overweight” rating and set a $44.00 target price on shares of Ringcentral in a report on Sunday, June 25th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Ringcentral in a report on Monday, June 26th. They set a “buy” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $39.17.
Ringcentral (NYSE RNG) opened at 41.55 on Friday. The stock’s market capitalization is $3.18 billion. Ringcentral has a 12 month low of $19.35 and a 12 month high of $43.05. The company has a 50-day moving average of $39.00 and a 200 day moving average of $33.88.
Ringcentral (NYSE:RNG) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $118.19 million. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. Ringcentral’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts anticipate that Ringcentral will post $0.17 earnings per share for the current fiscal year.
In other Ringcentral news, COO David Sipes sold 13,800 shares of Ringcentral stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $38.64, for a total value of $533,232.00. Following the sale, the chief operating officer now directly owns 291,580 shares in the company, valued at approximately $11,266,651.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitesh Dhruv sold 3,000 shares of Ringcentral stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.37, for a total transaction of $124,110.00. Following the completion of the sale, the chief financial officer now owns 141,113 shares in the company, valued at $5,837,844.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 348,998 shares of company stock worth $13,647,190. 14.53% of the stock is currently owned by insiders.
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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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