Key Analysts at Oppenheimer Didn’t Change their ‘”Buy”’ rating for RingCentral (NYSE:RNG) Shares Today. Their Target Price per Share is Set to $92.0000

June 20, 2018 - By Henry Gaston

RingCentral, Inc. (NYSE:RNG) Logo

Investors sentiment increased to 1.16 in Q1 2018. Its up 0.19, from 0.97 in 2017Q4. It increased, as 11 investors sold RingCentral, Inc. shares while 79 reduced holdings. 58 funds opened positions while 46 raised stakes. 57.87 million shares or 3.07% more from 56.14 million shares in 2017Q4 were reported.

54,281 were accumulated by Advisory Incorporated. Federated Investors Pa reported 0.04% stake. 98,000 are held by Oz Ltd Partnership. Eagle Asset Mgmt accumulated 290,874 shares or 0.1% of the stock. Soros Fund Ltd Com stated it has 0.42% of its portfolio in RingCentral, Inc. (NYSE:RNG). Cibc World Markets invested in 4,450 shares. Blackrock Inc owns 4.65 million shares. Gilder Gagnon Howe And Company Limited Liability invested 2.31% in RingCentral, Inc. (NYSE:RNG). Suntrust Banks holds 5,157 shares. 12 West Cap Mngmt Ltd Partnership holds 300,000 shares. Deutsche Fincl Bank Ag has 0.01% invested in RingCentral, Inc. (NYSE:RNG) for 292,742 shares. Alkeon Management Lc stated it has 963,800 shares or 0.32% of all its holdings. Coe Cap Mngmt Ltd Liability Company has invested 1.3% of its portfolio in RingCentral, Inc. (NYSE:RNG). Portolan Capital Mngmt Ltd Co holds 0.08% or 11,222 shares. Swiss Bancshares owns 101,700 shares for 0.01% of their portfolio.

Since January 4, 2018, it had 0 buys, and 24 selling transactions for $20.62 million activity. 24,055 shares were sold by Shmunis Vladimir, worth $1.59M on Tuesday, April 10. 3,000 shares were sold by Dhruv Mitesh, worth $202,469 on Wednesday, March 14. $928,250 worth of RingCentral, Inc. (NYSE:RNG) shares were sold by Marlow John H. $732,280 worth of RingCentral, Inc. (NYSE:RNG) was sold by Shah Praful. 6,789 shares valued at $501,707 were sold by Michelle McKenna on Tuesday, May 29. Shares for $150,000 were sold by THEIS ROBERT I.

RingCentral (NYSE:RNG) Rating Reaffirmed

Oppenheimer now has a $92.0000 target price per share on shares of RingCentral (NYSE:RNG). The target price per share suggests a potential upside of 16.16 % from the last stock price of RingCentral (NYSE:RNG). This rating was revealed to clients and investors in a research report on Tuesday, 19 June.

RingCentral, Inc. (NYSE:RNG) Ratings Coverage

Among 11 analysts covering RingCentral (NYSE:RNG), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. RingCentral has $92 highest and $58.0 lowest target. $73.70’s average target is -6.94% below currents $79.2 stock price. RingCentral had 17 analyst reports since February 12, 2018 according to SRatingsIntel. The stock of RingCentral, Inc. (NYSE:RNG) has “Buy” rating given on Thursday, May 10 by Craig Hallum. The firm has “Buy” rating by Jefferies given on Friday, June 15. As per Monday, February 12, the company rating was maintained by Jefferies. Robert W. Baird maintained the shares of RNG in report on Tuesday, February 13 with “Hold” rating. The firm earned “Outperform” rating on Tuesday, June 19 by Oppenheimer. The firm earned “Buy” rating on Friday, March 16 by Jefferies. Bank of America maintained the shares of RNG in report on Tuesday, February 13 with “Buy” rating. The firm earned “Overweight” rating on Tuesday, February 13 by Morgan Stanley. On Tuesday, February 13 the stock rating was maintained by Stephens with “Buy”. Northland Capital maintained it with “Buy” rating and $61.0 target in Tuesday, February 13 report.

The stock increased 2.86% or $2.2 during the last trading session, reaching $79.2. About 267,391 shares traded. RingCentral, Inc. (NYSE:RNG) has risen 114.00% since June 20, 2017 and is uptrending. It has outperformed by 101.43% the S&P500.

Analysts await RingCentral, Inc. (NYSE:RNG) to report earnings on August, 1. They expect $-0.06 EPS, up 40.00 % or $0.04 from last year’s $-0.1 per share.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $6.23 billion. The companyÂ’s products include RingCentral Office, a multi-tenant, multi-location, enterprise-grade communications solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing, including smartphones, tablets, PCs, and desk phones for businesses that require a communications solution; RingCentral Professional, an inbound call routing subscription with text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that provides Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine. It currently has negative earnings. The Company’s products also comprise RingCentral Contact Center, which provides a cloud based contact center solution that delivers multi-channel capabilities; and RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office.

More important recent RingCentral, Inc. (NYSE:RNG) news were published by: Businesswire.com which released: “Intelsat Empowers Global Workforce With RingCentral Cloud Communications Solutions” on June 11, 2018, also Streetinsider.com published article titled: “RingCentral (RNG) PT Raised to $82 at Northland Capital Markets”, Benzinga.com published: “8 Biggest Price Target Changes For Tuesday” on June 19, 2018. More interesting news about RingCentral, Inc. (NYSE:RNG) was released by: Streetinsider.com and their article: “William Blair Remains Bullish on Ringcentral, Inc. (RNG) Following Analyst Day” with publication date: June 18, 2018.

RingCentral, Inc. (NYSE:RNG) Institutional Positions Chart

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