RingCentral (NYSE:RNG – Get Rating) had its price target decreased by Barclays from $300.00 to $140.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Barclays‘s target price would indicate a potential upside of 51.47% from the company’s current price.
Several other equities analysts have also issued reports on RNG. Morgan Stanley cut their target price on RingCentral from $220.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 22nd. Evercore ISI cut their target price on RingCentral from $275.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 23rd. The Goldman Sachs Group cut their target price on RingCentral from $240.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Needham & Company LLC dropped their price target on RingCentral from $400.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Finally, Piper Sandler dropped their price target on RingCentral from $352.00 to $228.00 in a research note on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, RingCentral has a consensus rating of “Buy” and an average target price of $247.57.
Shares of RingCentral stock opened at $92.43 on Tuesday. The firm has a market cap of $8.52 billion, a P/E ratio of -22.60 and a beta of 0.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 4.13. RingCentral has a 12 month low of $89.72 and a 12 month high of $335.18. The stock’s fifty day moving average price is $118.48 and its 200-day moving average price is $174.05.
Large investors have recently made changes to their positions in the business. Cornerstone Wealth Advisors Inc. acquired a new position in RingCentral in the first quarter valued at approximately $26,000. Spire Wealth Management raised its stake in shares of RingCentral by 843.8% during the 4th quarter. Spire Wealth Management now owns 151 shares of the software maker’s stock worth $28,000 after buying an additional 135 shares during the period. Jackson Wealth Management LLC raised its stake in shares of RingCentral by 117.9% during the 3rd quarter. Jackson Wealth Management LLC now owns 21,427 shares of the software maker’s stock worth $30,000 after buying an additional 11,593 shares during the period. FourThought Financial LLC raised its stake in shares of RingCentral by 60.6% during the 3rd quarter. FourThought Financial LLC now owns 159 shares of the software maker’s stock worth $34,000 after buying an additional 60 shares during the period. Finally, Neo Ivy Capital Management raised its stake in shares of RingCentral by 185.1% during the 4th quarter. Neo Ivy Capital Management now owns 191 shares of the software maker’s stock worth $36,000 after buying an additional 124 shares during the period. 87.39% of the stock is owned by institutional investors.
RingCentral Company Profile (Get Rating)
RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company offers business cloud communications and contact center solutions based on its Message Video Phone? platform. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers.
- Get a free copy of the StockNews.com research report on RingCentral (RNG)
- Why These 3 Stocks Matter Most in the Dow
- Synchrony Financial Stock is Ready to Slingshot Back Up
- Cisco Systems Stock Bestows Another Buy the Dip Opportunity
- 3 Stocks Near 52-Week Highs That Still Look Cheap
- Is Cleveland-Cliffs Stock a Safe Bet After Earnings?
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.