Ringcentral (RNG) Shares are Up 4.3%

Ringcentral (RNG) : Traders are bullish on Ringcentral (RNG) as it has outperformed the S&P 500 by a wide margin of 8.3% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.86%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.3% in the last 1 week, and is up 11% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Ringcentral (NYSE:RNG): The stock opened at $24.24 on Friday but the bulls could not build on the opening and the stock topped out at $24.30 for the day. The stock traded down to $23.80 during the day, due to lack of any buying support eventually closed down at $24.02 with a loss of -0.50% for the day. The stock had closed at $24.14 on the previous day. The total traded volume was 537,247 shares.

The stock has recorded a 20-day Moving Average of 6.48% and the 50-Day Moving Average is 13.91%. RingCentral, Inc. is up 31.83% in the last 3-month period. Year-to-Date the stock performance stands at 1.87%.

Ringcentral (RNG) : 9 investment research analysts covering Ringcentral (RNG) have an average price target of $28.22 for the near short term. The highest target price given by the Brokerage Firm to the stock is $32 and the lowest target is $25 for the short term. Analysts expect the variance to be within $2.28 of the average price.


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.

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