Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Ringcentral (RNG) Stock Price

Press coverage about Ringcentral (NYSE:RNG) has trended somewhat positive recently, according to Accern. The research group ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern 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 0.07 on Accern’s scale. Accern also gave news coverage about the software maker an impact score of 45.4138203793938 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:

RNG has been the subject of a number of analyst reports. BidaskClub upgraded shares of Ringcentral from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Northland Securities reaffirmed an “outperform” rating and issued a $46.00 target price (up from $43.00) on shares of Ringcentral in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Ringcentral from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and issued a $48.00 target price on shares of Ringcentral in a research note on Thursday, October 19th. Finally, Bank of America raised their target price on shares of Ringcentral from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $45.14.

Ringcentral (NYSE RNG) traded down $0.95 during mid-day trading on Tuesday, hitting $46.60. 625,528 shares of the company’s stock traded hands, compared to its average volume of 662,459. Ringcentral has a 52-week low of $20.55 and a 52-week high of $49.95.

Ringcentral (NYSE:RNG) last posted its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $129.76 million for the quarter, compared to the consensus estimate of $126.06 million. Ringcentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. The business’s revenue was up 34.0% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. sell-side analysts predict that Ringcentral will post -0.33 EPS for the current fiscal year.

In related news, CAO John H. Marlow sold 6,000 shares of Ringcentral stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $42.43, for a total value of $254,580.00. Following the transaction, the chief accounting officer now directly owns 133,101 shares of the company’s stock, valued at $5,647,475.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Shmunis sold 48,666 shares of Ringcentral stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $47.12, for a total transaction of $2,293,141.92. Following the completion of the transaction, the chief executive officer now directly owns 355,041 shares in the company, valued at $16,729,531.92. The disclosure for this sale can be found here. Insiders have sold 398,242 shares of company stock worth $18,034,844 over the last three months. Insiders own 14.53% of the company’s stock.

WARNING: This story was first posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.truebluetribune.com/2017/12/12/somewhat-favorable-press-coverage-somewhat-unlikely-to-affect-ringcentral-rng-stock-price-2.html.

Ringcentral Company Profile

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.

Insider Buying and Selling by Quarter for Ringcentral (NYSE:RNG)

Receive News & Ratings for Ringcentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ringcentral and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply