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RingCentral Inc. (NYSE: RNG) closed the day trading at $31.69 down -1.18% from the previous closing price of $32.07. In other words, the price has decreased by -$1.18 from its previous closing price. On the day, 1.42 million shares were traded. RNG stock price reached its highest trading level at $32.55 during the session, while it also had its lowest trading level at $31.515.
Ratios:
For a better understanding of RNG, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 14.65 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.41. 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:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Aug 09 ’24 when THEIS ROBERT I bought 8,448 shares for $34.50 per share.
Agarwal Vaibhav sold 1,985 shares of RNG for $55,981 on Jul 01 ’24. The DEPUTY CHIEF FINANCIAL OFFICER now owns 156,799 shares after completing the transaction at $28.20 per share. On May 28 ’24, another insider, Parekh Sonalee Elizabeth, who serves as the CHIEF FINANCIAL OFFICER of the company, sold 8,478 shares for $34.85 each. As a result, the insider received 295,433 and left with 388,919 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 2944666624 and an Enterprise Value of 4495347200. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.27. Its current Enterprise Value per Revenue stands at 1.949 whereas that against EBITDA is 33.883.
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 0.72%, while the 200-Day Moving Average is calculated to be -1.27%.
Shares Statistics:
Over the past 3-months, RNG traded about 1.23M shares per day on average, while over the past 10 days, RNG traded about 1338190 shares per day. 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 95.42% stake in the company. Shares short for RNG as of 1721001600 were 5301195 with a Short Ratio of 4.52, compared to 1718323200 on 4698721. Therefore, it implies a Short% of Shares Outstanding of 5301195 and a Short% of Float of 8.8599995.
Earnings Estimates
The current rating of RingCentral Inc. (RNG) is the result of assessments by 21.0 analysts actively engaged in evaluating its market dynamics.The consensus estimate for the next quarter is $0.95, with high estimates of $0.99 and low estimates of $0.92.
Analysts are recommending an EPS of between $3.72 and $3.63 for the fiscal current year, implying an average EPS of $3.66. EPS for the following year is $4.17, with 22.0 analysts recommending between $4.51 and $3.83.
Revenue Estimates
20 analysts predict $602.17M in revenue for the current quarter. It ranges from a high estimate of $604.24M to a low estimate of $600.51M. As of the current estimate, RingCentral Inc.’s year-ago sales were $558.16MFor the next quarter, 20 analysts are estimating revenue of $615.88M. There is a high estimate of $618M for the next quarter, whereas the lowest estimate is $613.45M.
A total of 22 analysts have provided revenue estimates for RNG’s current fiscal year. The highest revenue estimate was $2.4B, while the lowest revenue estimate was $2.39B, resulting in an average revenue estimate of $2.4B. In the same quarter a year ago, actual revenue was $2.2BBased on 22 analysts’ estimates, the company’s revenue will be $2.59B in the next fiscal year. The high estimate is $2.63B and the low estimate is $2.56B.
