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After finishing at $37.76 in the prior trading day, RingCentral Inc (NYSE: RNG) closed at $37.05, down -1.88%. In other words, the price has decreased by -$1.88 from its previous closing price. On the day, 3.77 million shares were traded. RNG stock price reached its highest trading level at $38.47 during the session, while it also had its lowest trading level at $36.94.
Ratios:
Our goal is to gain a better understanding of RNG by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 15.76 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.81. For the most recent quarter (mrq), Quick Ratio is recorded 0.88 and its Current Ratio is at 0.88.
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 Nov 27 ’24 when 2015 VEN C TRS FBO EDWARD B VE bought 1,890 shares for $38.35 per share.
2015 VENDROW C TRT FBO JOSH VE bought 1,890 shares of RNG for $72,409 on Nov 27 ’24. On Nov 27 ’24, another insider, 2015 VEN C TRST FBO DAVID G VE, who serves as the 10% Owner of the company, bought 10,000 shares for $38.15 each.
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 3350453760 and an Enterprise Value of 4924553728. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.42. Its current Enterprise Value per Revenue stands at 2.089 whereas that against EBITDA is 25.897.
Stock Price History:
Over the past 52 weeks, RNG has reached a high of $40.98, while it has fallen to a 52-week low of $26.98. The 50-Day Moving Average of the stock is 7.69%, while the 200-Day Moving Average is calculated to be 12.84%.
Shares Statistics:
The stock has traded on average 1.32M shares per day over the past 3-months and 1044190 shares per day over the last 10 days, according to various share statistics. A total of 80.51M shares are outstanding, with a floating share count of 78.88M. Insiders hold about 12.77% of the company’s shares, while institutions hold 87.81% stake in the company. Shares short for RNG as of 1731628800 were 5966539 with a Short Ratio of 4.51, compared to 1728950400 on 5150308. Therefore, it implies a Short% of Shares Outstanding of 5966539 and a Short% of Float of 10.27.
