The closing price of RingCentral Inc. (NYSE: RNG) was $30.53 for the day, down -2.62% from the previous closing price of $31.35. In other words, the price has decreased by -$0.82 from its previous closing price. On the day, 1474381 shares were traded. RNG stock price reached its highest trading level at $31.40 during the session, while it also had its lowest trading level at $30.15.
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Ratios:
Our analysis of RNG’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 10.62 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 19.33. For the most recent quarter (mrq), Quick Ratio is recorded 1.40 and its Current Ratio is at 1.40.
Upgrades & Downgrades
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on May 16 when Parekh Sonalee Elizabeth sold 4,250 shares for $27.24 per share. The transaction valued at 115,760 led to the insider holds 129,005 shares of the business.
Marlow John H sold 7,823 shares of RNG for $267,767 on Feb 27. The SVP, CAO & General Counsel now owns 185,260 shares after completing the transaction at $34.23 per share. On Feb 22, another insider, Katibeh Mohammed, who serves as the President and COO of the company, sold 7,454 shares for $35.73 each. As a result, the insider received 266,369 and left with 110,248 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RNG now has a Market Capitalization of 2.62B and an Enterprise Value of 4.22B. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.42. Its current Enterprise Value per Revenue stands at 2.05 whereas that against EBITDA is -8.02.
Stock Price History:
Over the past 52 weeks, RNG has reached a high of $68.54, while it has fallen to a 52-week low of $25.32. The 50-Day Moving Average of the stock is 28.79, while the 200-Day Moving Average is calculated to be 36.13.
Shares Statistics:
RNG traded an average of 2.22M shares per day over the past three months and 2.48M shares per day over the past ten days. A total of 95.72M shares are outstanding, with a floating share count of 84.81M. Insiders hold about 1.00% of the company’s shares, while institutions hold 99.70% stake in the company. Shares short for RNG as of Apr 27, 2023 were 4.66M with a Short Ratio of 4.66M, compared to 4.75M on Mar 30, 2023. Therefore, it implies a Short% of Shares Outstanding of 4.81% and a Short% of Float of 7.31%.
Earnings Estimates
The firm’s stock currently is rated by 26 analysts. On average, analysts expect EPS of $0.75 for the current quarter, with a high estimate of $0.76 and a low estimate of $0.74, while EPS last year was $0.45. The consensus estimate for the next quarter is $0.82, with high estimates of $0.87 and low estimates of $0.79.
Analysts are recommending an EPS of between $3.28 and $3.19 for the fiscal current year, implying an average EPS of $3.23. EPS for the following year is $3.71, with 26 analysts recommending between $4.08 and $3.41.
Revenue Estimates
It is expected that $90B in revenue will be generated in the current quarter, according to 26 analysts. It ranges from a high estimate of $537.5M to a low estimate of $535M. As of the current estimate, RingCentral Inc.’s year-ago sales were $486.9M, an estimated increase of 10.10% from the year-ago figure. For the next quarter, 26 analysts are estimating revenue of $553.71M, an increase of 10.10% over than the figure of $10.10% in the same quarter last year. There is a high estimate of $558.9M for the next quarter, whereas the lowest estimate is $550M.
A total of 28 analysts have provided revenue estimates for RNG’s current fiscal year. The highest revenue estimate was $2.21B, while the lowest revenue estimate was $2.19B, resulting in an average revenue estimate of $2.2B. In the same quarter a year ago, actual revenue was $1.99B, up 10.50% from the average estimate. Based on 27 analysts’ estimates, the company’s revenue will be $2.43B in the next fiscal year. The high estimate is $2.54B and the low estimate is $2.36B. The average revenue growth estimate for next year is up 10.90% from the average revenue estimate for this year.
