Impact of Brokerage Rating on Ringcentral, Inc.(RNG)

Many Ringcentral, Inc.(RNG) Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock. Company shares were Upgraded by Robert W. Baird on Dec 12, 2016 to Outperform, Raises Price Target to $ 29 from a previous price target of $26 .

Company has reported several Insider transactions to the SEC, on Feb 2, 2017, Praful Shah (SVP, Strategy) sold 10,000 shares at 23.03 per share price.On Dec 15, 2016, Clyde Hosein (EVP and CFO) sold 159,813 shares at 22.36 per share price.On Nov 23, 2016, John H Marlow (SVP & General Counsel) sold 2,238 shares at 22.20 per share price.

RingCentral Inc Last issued its quarterly earnings results on Feb 13, 2017. The company reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01. Analyst had a consensus of $0.02. The company had revenue of $104.50 million for the quarter, compared to analysts expectations of $103.02 million. The companys revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

Ringcentral, Inc. (NYSE:RNG) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 1 by 10 Brokerage Firm. 10 Wall Street Firms have rated the stock as a strong buys.

Ringcentral, Inc. (NYSE:RNG): 9 analysts have set the short term price target of Ringcentral, Inc. (NYSE:RNG) at $29.44. The standard deviation of short term price target has been estimated at $1.33, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 32 and $28 respectively.

Ringcentral, Inc. (NYSE:RNG) rose 0.42% or 0.1 points on Tuesday and made its way into the gainers of the day. After trading began at $23.55 the stock was seen hitting $24.5 as a peak level and $22.55 as the lowest level. The stock ended up at $23.9. The daily volume was measured at 2,633,871 shares. The 52-week high of the share price is $25 and the 52-week low is $13.88. The company has a market cap of $1,759 million.

RingCentral, Inc. provides solutions for business communications primarily in the United States. The Companys products include RingCentral Office, RingCentral Mobile and RingCentral Fax. It provides solutions such as auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers and elegant integration with Smartphones. RingCentral, Inc. is headquartered in San Mateo, California.

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