News coverage about RingCentral (NYSE:RNG) has trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. RingCentral earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave media stories about the software maker an impact score of 44.7579407213984 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news articles that may have impacted Accern Sentiment’s scoring:
- Jason Amodeo (linkedin.com)
- First Week of RNG February 16th Options Trading (nasdaq.com)
- Shotspotter (SSTI) vs. RingCentral (RNG) Financial Contrast (americanbankingnews.com)
- Insider Selling: RingCentral Inc (RNG) COO Sells 9,300 Shares of Stock (americanbankingnews.com)
- RingCentral Inc (RNG) Expected to Post Quarterly Sales of $137.00 Million (americanbankingnews.com)
Several research analysts have recently issued reports on RNG shares. Northland Securities restated an “outperform” rating and issued a $46.00 price target (up from $43.00) on shares of RingCentral in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded RingCentral from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, October 4th. Jefferies Group restated a “buy” rating and issued a $48.00 price target on shares of RingCentral in a research report on Thursday, October 19th. Bank of America raised their price target on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Oppenheimer raised their price target on RingCentral from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $45.14.
RingCentral (NYSE:RNG) last issued its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $129.76 million for the quarter, compared to the consensus estimate of $126.06 million. RingCentral had a negative return on equity of 17.97% and a negative net margin of 5.80%. The firm’s revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. equities analysts forecast that RingCentral will post -0.33 EPS for the current fiscal year.
In other RingCentral news, CEO Vladimir Shmunis sold 48,666 shares of RingCentral stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $47.12, for a total value of $2,293,141.92. Following the sale, the chief executive officer now owns 355,041 shares of the company’s stock, valued at approximately $16,729,531.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Sipes sold 1,500 shares of RingCentral stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $44.00, for a total value of $66,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 229,434 shares of company stock worth $11,025,382 in the last ninety days. 14.53% of the stock is currently owned by company insiders.
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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.
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