Quarterly Metrics: Quick and Current Ratios for RingCentral Inc. (RNG)

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As of close of business last night, RingCentral Inc.’s stock clocked out at $34.15, up 1.13% from its previous closing price of $33.77. In other words, the price has increased by $1.13 from its previous closing price. On the day, 0.87 million shares were traded. RNG stock price reached its highest trading level at $34.34 during the session, while it also had its lowest trading level at $33.71.

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 15.73 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 9.03. 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:

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 Aug 16 ’24 when AZIZ MEGJI bought 965 shares for $33.96 per share.

THEIS ROBERT I bought 8,448 shares of RNG for $291,456 on Aug 09 ’24. On Jul 01 ’24, another insider, Agarwal Vaibhav, who serves as the DEPUTY CHIEF FINANCIAL OFFICER of the company, sold 1,985 shares for $28.20 each. As a result, the insider received 55,981 and left with 156,799 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 3100762112 and an Enterprise Value of 4721224192. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.36. Its current Enterprise Value per Revenue stands at 2.047 whereas that against EBITDA is 35.585.

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 8.99%, while the 200-Day Moving Average is calculated to be 5.81%.

Shares Statistics:

It appears that RNG traded 1.23M shares on average per day over the past three months and 1081980 shares per day over the past ten days. A total of 83.54M shares are outstanding, with a floating share count of 79.76M. Insiders hold about 13.14% of the company’s shares, while institutions hold 96.46% stake in the company. Shares short for RNG as of 1722384000 were 5577071 with a Short Ratio of 4.54, compared to 1719532800 on 4872921. Therefore, it implies a Short% of Shares Outstanding of 5577071 and a Short% of Float of 9.379999999999999.

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