The price of RingCentral Inc. (NYSE: RNG) closed at $33.42 in the last session, up 1.24% from day before closing price of $33.01. In other words, the price has increased by $+0.41 from its previous closing price. On the day, 1363720 shares were traded.
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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 13.89 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.95. 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:
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 Feb 23 when Parekh Sonalee Elizabeth sold 20,455 shares for $30.83 per share. The transaction valued at 630,729 led to the insider holds 347,955 shares of the business.
Shmunis Vladimir sold 137,555 shares of RNG for $4,169,571 on Feb 22. The CEO AND CHAIRMAN now owns 550,632 shares after completing the transaction at $30.31 per share. On Feb 22, another insider, Marlow John H, who serves as the SVP, CAO & GENERAL COUNSEL of the company, sold 56,913 shares for $30.32 each. As a result, the insider received 1,725,342 and left with 380,981 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 3.09B and an Enterprise Value of 4.45B. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.40. Its current Enterprise Value per Revenue stands at 2.02 whereas that against EBITDA is 39.38.
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 33.26, while the 200-Day Moving Average is calculated to be 32.04.
Shares Statistics:
According to the various share statistics, RNG traded on average about 1.41M shares per day over the past 3-months and 2.03M shares per day over the past 10 days. A total of 83.54M shares are outstanding, with a floating share count of 79.98M. Insiders hold about 13.36% of the company’s shares, while institutions hold 88.72% stake in the company. Shares short for RNG as of Feb 15, 2024 were 4.64M with a Short Ratio of 3.30, compared to 4.69M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 5.03% and a Short% of Float of 7.70%.
Earnings Estimates
The company has 23 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.8 for the current quarter, with a high estimate of $0.85 and a low estimate of $0.79, 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 $3.49 for the fiscal current year, implying an average EPS of $3.55. EPS for the following year is $4.06, with 23 analysts recommending between $4.3 and $3.87.
Revenue Estimates
According to 22 analysts, the current quarter’s revenue is expected to be $578.14M. 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, 22 analysts are estimating revenue of $585.58M, 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 24 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 8.30% from the average estimate. Based on 23 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.
