In the latest session, RingCentral Inc. (NYSE: RNG) closed at $36.14 up 1.98% from its previous closing price of $35.44. In other words, the price has increased by $+0.70 from its previous closing price. On the day, 891277 shares were traded.
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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 15.02 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 10.30. For the most recent quarter (mrq), Quick Ratio is recorded 1.05 and its Current Ratio is at 1.05.
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:
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 Mar 15 ’24 when Agarwal Vaibhav sold 14,113 shares for $34.84 per share. The transaction valued at 491,655 led to the insider holds 116,640 shares of the business.
GOLDMAN KENNETH A sold 1,286 shares of RNG for $46,368 on Mar 08 ’24. The Director now owns 22,402 shares after completing the transaction at $36.06 per share. On Mar 07 ’24, another insider, GOLDMAN KENNETH A, who serves as the Director of the company, sold 1,287 shares for $34.47 each. As a result, the insider received 44,358 and left with 23,688 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 3.34B and an Enterprise Value of 4.70B. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.51. Its current Enterprise Value per Revenue stands at 2.14 whereas that against EBITDA is 41.60.
Stock Price History:
The Beta on a monthly basis for RNG is 0.92, which has changed by 32.67% over the last 52 weeks, in comparison to a change of 32.31% over the same period for the S&P500. 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 33.70, while the 200-Day Moving Average is calculated to be 32.29.
Shares Statistics:
For the past three months, RNG has traded an average of 1.25M shares per day and 1.29M over the past ten days. A total of 83.54M shares are outstanding, with a floating share count of 79.93M. Insiders hold about 13.41% of the company’s shares, while institutions hold 87.82% stake in the company. Shares short for RNG as of Feb 29, 2024 were 4.5M with a Short Ratio of 3.61, compared to 4.49M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 4.87% and a Short% of Float of 7.50%.
Earnings Estimates
There are 24 different market analysts currently analyzing its stock. On average, analysts expect EPS of $0.8 for the current quarter, with a high estimate of $0.85 and a low estimate of $0.78, while EPS last year was $0.76. The consensus estimate for the next quarter is $0.85, with high estimates of $0.9 and low estimates of $0.83.
Analysts are recommending an EPS of between $3.69 and $3.47 for the fiscal current year, implying an average EPS of $3.55. EPS for the following year is $4.04, with 24 analysts recommending between $4.3 and $3.74.
Revenue Estimates
A total of 23 analysts believe the company’s revenue will be $578.12M this quarter.It ranges from a high estimate of $580M to a low estimate of $576.5M. As of the current estimate, RingCentral Inc.’s year-ago sales were $533.69M, an estimated increase of 8.30% from the year-ago figure. For the next quarter, 23 analysts are estimating revenue of $585.64M, an increase of 9.20% over than the figure of $8.30% in the same quarter last year. There is a high estimate of $592M for the next quarter, whereas the lowest estimate is $579.72M.
A total of 25 analysts have provided revenue estimates for RNG’s current fiscal year. The highest revenue estimate was $2.4B, while the lowest revenue estimate was $2.37B, resulting in an average revenue estimate of $2.38B. In the same quarter a year ago, actual revenue was $2.2B, up 8.20% from the average estimate. Based on 24 analysts’ estimates, the company’s revenue will be $2.58B in the next fiscal year. The high estimate is $2.64B and the low estimate is $2.54B. The average revenue growth estimate for next year is up 8.30% from the average revenue estimate for this year.
