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As of close of business last night, RingCentral Inc.’s stock clocked out at $32.72, up 0.83% from its previous closing price of $32.45. In other words, the price has increased by $0.83 from its previous closing price. On the day, 1.71 million shares were traded. RNG stock price reached its highest trading level at $32.94 during the session, while it also had its lowest trading level at $31.98.
Ratios:
To gain a deeper understanding of RNG’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 14.85 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 9.68. For the most recent quarter (mrq), Quick Ratio is recorded 0.84 and its Current Ratio is at 0.85.
On December 12, 2023, Jefferies Downgraded its rating to Hold which previously was Buy and also lowered its target price recommendation from $40 to $35.
Rosenblatt Downgraded its Buy to Neutral on October 23, 2023, whereas the target price for the stock was revised from $52 to $35.
Insider Transactions:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Jul 01 ’24 when Agarwal Vaibhav sold 1,985 shares for $28.20 per share. The transaction valued at 55,981 led to the insider holds 156,799 shares of the business.
Parekh Sonalee Elizabeth sold 8,478 shares of RNG for $295,433 on May 28 ’24. The CHIEF FINANCIAL OFFICER now owns 388,919 shares after completing the transaction at $34.85 per share. On May 22 ’24, another insider, Shmunis Vladimir, who serves as the CEO and Chairman of the company, sold 32,013 shares for $35.52 each. As a result, the insider received 1,137,237 and left with 635,969 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 2991053056 and an Enterprise Value of 4597363712. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.34. Its current Enterprise Value per Revenue stands at 2.041 whereas that against EBITDA is 47.42.
Stock Price History:
Over the past 52 weeks, RNG has reached a high of $43.28, while it has fallen to a 52-week low of $25.08. The 50-Day Moving Average of the stock is 2.37%, while the 200-Day Moving Average is calculated to be 3.19%.
Shares Statistics:
It appears that RNG traded 1.17M shares on average per day over the past three months and 1284930 shares per day over the past ten days. A total of 83.54M shares are outstanding, with a floating share count of 80.26M. Insiders hold about 12.92% of the company’s shares, while institutions hold 88.40% stake in the company. Shares short for RNG as of 1719532800 were 4872921 with a Short Ratio of 4.16, compared to 1717113600 on 3952280. Therefore, it implies a Short% of Shares Outstanding of 4872921 and a Short% of Float of 8.140001.
