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The price of RingCentral Inc. (NYSE: RNG) closed at $28.70 in the last session, up 0.63% from day before closing price of $28.52. In other words, the price has increased by $0.63 from its previous closing price. On the day, 0.83 million shares were traded. RNG stock price reached its highest trading level at $28.66 during the session, while it also had its lowest trading level at $28.2.
Ratios:
We take a closer look at RNG’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 13.02 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.49. 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:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of 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 2633416960 and an Enterprise Value of 4214840576. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.17. Its current Enterprise Value per Revenue stands at 1.871 whereas that against EBITDA is 43.474.
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 -10.67%, while the 200-Day Moving Average is calculated to be -9.46%.
Shares Statistics:
According to the various share statistics, RNG traded on average about 1.10M shares per day over the past 3-months and 1705750 shares per day over the past 10 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 88.36% stake in the company. Shares short for RNG as of 1718323200 were 4698721 with a Short Ratio of 4.28, compared to 1715731200 on 4431432. Therefore, it implies a Short% of Shares Outstanding of 4698721 and a Short% of Float of 7.85.
