RingCentral (RNG) Earns Daily Media Impact Score of 0.44
Media coverage about RingCentral (NYSE:RNG) has trended positive recently, Alpha One reports. Alpha One, a unit of Accern, identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. RingCentral earned a coverage optimism score of 0.44 on Alpha One’s scale. Alpha One also gave news stories about the software maker an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an impact on the stock’s share price in the near term.
A number of equities research analysts recently weighed in on RNG shares. Zacks Investment Research lowered shares of RingCentral from a “hold” rating to a “sell” rating in a report on Friday, February 17th. Jefferies Group LLC increased their price objective on shares of RingCentral from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, February 27th. William Blair reiterated an “outperform” rating on shares of RingCentral in a research note on Thursday, February 23rd. Dougherty & Co began coverage on shares of RingCentral in a research note on Wednesday, April 26th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Morgan Stanley upgraded shares of RingCentral from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research note on Tuesday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.78.
RingCentral (NYSE:RNG) traded up 2.995% on Friday, reaching $33.525. 81,603 shares of the company traded hands. The stock’s market capitalization is $2.52 billion. The stock’s 50-day moving average is $30.38 and its 200-day moving average is $25.18. RingCentral has a 1-year low of $18.11 and a 1-year high of $33.65.
RingCentral (NYSE:RNG) last posted its earnings results on Tuesday, April 25th. The software maker reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $111.80 million during the quarter, compared to analyst estimates of $110.35 million. RingCentral had a negative net margin of 7.72% and a negative return on equity of 20.77%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. Equities research analysts expect that RingCentral will post $0.16 EPS for the current year.
In related news, CFO Clyde Hosein sold 200,000 shares of RingCentral stock in a transaction on Monday, May 1st. The shares were sold at an average price of $32.08, for a total value of $6,416,000.00. Following the sale, the chief financial officer now owns 273,691 shares of the company’s stock, valued at approximately $8,780,007.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Praful Shah sold 2,415 shares of RingCentral stock in a transaction on Monday, February 27th. The shares were sold at an average price of $26.85, for a total transaction of $64,842.75. Following the completion of the sale, the insider now directly owns 322,717 shares in the company, valued at approximately $8,664,951.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,903 shares of company stock valued at $7,548,405. Insiders own 17.34% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/05/19/ringcentral-rng-earning-favorable-press-coverage-analysis-shows-updated-updated.html.
RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.
Receive News & Stock Ratings for RingCentral Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral Inc and related stocks with our FREE daily email newsletter.