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In the latest session, RingCentral Inc. (NYSE: RNG) closed at $30.24 down -1.24% from its previous closing price of $30.62. In other words, the price has decreased by -$1.24 from its previous closing price. On the day, 1.06 million shares were traded. RNG stock price reached its highest trading level at $30.78 during the session, while it also had its lowest trading level at $30.1565.
Ratios:
For a deeper understanding of RingCentral Inc.’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 13.93 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.00. For the most recent quarter (mrq), Quick Ratio is recorded 0.84 and its Current Ratio is at 0.84.
On December 20, 2023, Wells Fargo Downgraded its rating to Equal Weight which previously was Overweight but kept the price unchanged to $36.
Jefferies Downgraded its Buy to Hold on December 12, 2023, whereas the target price for the stock was revised from $40 to $35.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Aug 26 ’24 when THEIS ROBERT I sold 8,448 shares for $34.00 per share. The transaction valued at 287,232 led to the insider holds 31,604 shares of the business.
Parekh Sonalee Elizabeth sold 9,913 shares of RNG for $331,570 on Aug 23 ’24. The CHIEF FINANCIAL OFFICER now owns 358,622 shares after completing the transaction at $33.45 per share. On Aug 21 ’24, another insider, Marlow John H, who serves as the SVP, CAO & GENERAL COUNSEL of the company, sold 19,498 shares for $32.52 each. As a result, the insider received 634,055 and left with 391,542 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 2776636672 and an Enterprise Value of 4362208256. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.20. Its current Enterprise Value per Revenue stands at 1.891 whereas that against EBITDA is 32.879.
Stock Price History:
Over the past 52 weeks, RNG has reached a high of $38.35, while it has fallen to a 52-week low of $25.08. The 50-Day Moving Average of the stock is -6.07%, while the 200-Day Moving Average is calculated to be -7.19%.
Shares Statistics:
For the past three months, RNG has traded an average of 1.31M shares per day and 1463560 over the past ten days. A total of 83.54M shares are outstanding, with a floating share count of 80.05M. Insiders hold about 12.82% of the company’s shares, while institutions hold 89.49% stake in the company. Shares short for RNG as of 1724976000 were 5782877 with a Short Ratio of 4.43, compared to 1722384000 on 5577071. Therefore, it implies a Short% of Shares Outstanding of 5782877 and a Short% of Float of 9.7200006.
