Ringcentral (RNG) : 10 analysts are covering Ringcentral (RNG) and their average rating on the stock is 1.4, which is read as a Strong Buy. 8 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Ringcentral (RNG) : The most positive equity analysts on Ringcentral (RNG) expects the shares to touch $32, whereas, the least positive believes that the stock will trade at $24 in the short term. The company is covered by 9 Wall Street Brokerage Firms. The average price target for shares are $27.89 with an expected fluctuation of $2.67 from the mean.
Also, Baird initiates coverage on Ringcentral (NYSE:RNG) The current rating of the shares is Neutral. Equity Analysts at the Firm announces the price target to $24 per share. The rating by the firm was issued on August 25, 2016.
Ringcentral (NYSE:RNG): After opening at $22.3, the stock dipped to an intraday low of $22.17 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $23.06 and the buying power remained strong till the end. The stock closed at $23.05 for the day, a gain of 3.69% for the day session. The total traded volume was 508,427. The stocks close on the previous trading day was $22.23.
RingCentral, Inc. is a provider of software-as-a-service (SaaS) solutions for business communications. The Companys products are RingCentral Office, RingCentral Professional and RingCentral Fax, which it sells as monthly subscriptions to its customers. The Companys flagship product RingCentral Office is a multi-location, multi-user, enterprise-grade communications solution that enables employees to communicate through different channels and on multiple devices. RingCentral Professional is an inbound call routing subscription with additional text and fax capabilities targeting smaller deployments. RingCentral Fax is an Internet fax subscription that permits sending and receiving faxes over the Internet.