What’s Ahead for RingCentral, Inc. (RNG) After Reaching All-Time High?

March 14, 2018 - By Vivian Currie

Investors sentiment decreased to 0.99 in 2017 Q3. Its down 0.32, from 1.31 in 2017Q2. It dived, as 18 investors sold RingCentral, Inc. shares while 62 reduced holdings. 26 funds opened positions while 53 raised stakes. 55.54 million shares or 2.55% more from 54.16 million shares in 2017Q2 were reported.
Aqr Mgmt Lc, a Connecticut-based fund reported 55,602 shares. Products Partners Llc has invested 0.28% of its portfolio in RingCentral, Inc. (NYSE:RNG). D E Shaw Communications Inc accumulated 0.01% or 193,523 shares. First Mercantile Trust Communication owns 10,888 shares. Price T Rowe Assocs Incorporated Md stated it has 0.01% of its portfolio in RingCentral, Inc. (NYSE:RNG). Royal Financial Bank Of Canada reported 5,357 shares. Jane Street Group Lc has invested 0% in RingCentral, Inc. (NYSE:RNG). Ngam Advsr L P stated it has 52,397 shares or 0.02% of all its holdings. Blackrock stated it has 4.36 million shares. Td Asset Mgmt has invested 0% in RingCentral, Inc. (NYSE:RNG). 121,508 are owned by Venator Capital Mngmt Limited. Guggenheim invested in 31,693 shares or 0% of the stock. Federated Investors Pa invested in 187,626 shares. Amp Investors has 0% invested in RingCentral, Inc. (NYSE:RNG). Engineers Gate Manager Limited Partnership holds 15,214 shares.

Since September 19, 2017, it had 0 insider purchases, and 20 insider sales for $12.99 million activity. Another trade for 10,000 shares valued at $661,300 was made by Shah Praful on Thursday, March 8. Another trade for 3,000 shares valued at $143,550 was sold by Dhruv Mitesh. 48,666 shares were sold by Shmunis Vladimir, worth $2.29M on Monday, December 11. Another trade for 12,639 shares valued at $803,642 was sold by Marlow John H.

The stock of RingCentral, Inc. (NYSE:RNG) reached all time high today, Mar, 14 and still has $72.19 target or 6.00 % above today’s $68.10 share price. This indicates more upside for the $5.36B company. This technical setup was reported by Barchart.com. If the $72.19 PT is reached, the company will be worth $321.48 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 3.03% or $2 during the last trading session, reaching $68.1. About 322,381 shares traded. RingCentral, Inc. (NYSE:RNG) has risen 80.85% since March 14, 2017 and is uptrending. It has outperformed by 64.15% the S&P500.

Analysts await RingCentral, Inc. (NYSE:RNG) to report earnings on April, 24. They expect $-0.06 EPS, up 33.33 % or $0.03 from last year’s $-0.09 per share. After $-0.08 actual EPS reported by RingCentral, Inc. for the previous quarter, Wall Street now forecasts -25.00 % EPS growth.

RingCentral, Inc. (NYSE:RNG) Ratings Coverage

Among 18 analysts covering RingCentral (NYSE:RNG), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. RingCentral had 60 analyst reports since July 21, 2015 according to SRatingsIntel. The company was downgraded on Tuesday, December 12 by J.P. Morgan. The rating was maintained by Oppenheimer with “Buy” on Thursday, July 13. The rating was maintained by Morgan Stanley on Tuesday, February 13 with “Overweight”. The company was maintained on Monday, February 12 by SunTrust. The stock of RingCentral, Inc. (NYSE:RNG) earned “Buy” rating by Jefferies on Thursday, November 9. RBC Capital Markets initiated the shares of RNG in report on Tuesday, October 6 with “Outperform” rating. The company was maintained on Wednesday, December 16 by Oppenheimer. The firm has “Neutral” rating given on Thursday, August 10 by Robert W. Baird. The stock of RingCentral, Inc. (NYSE:RNG) has “Buy” rating given on Monday, October 23 by William Blair. The rating was maintained by Jefferies on Tuesday, September 5 with “Buy”.

More recent RingCentral, Inc. (NYSE:RNG) news were published by: Nasdaq.com which released: “RingCentral Inc. (RNG) Has Jumped To A New High After Q4 Profit Beat” on February 13, 2018. Also Streetinsider.com published the news titled: “Ringcentral, Inc. (RNG) Announces $350 Million Convertible Notes Offering” on February 27, 2018. Businesswire.com‘s news article titled: “RingCentral Launches Integrated Collaborative Meetings Solution” with publication date: March 07, 2018 was also an interesting one.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $5.36 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.

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