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Wednesday, February 8, 2023

RingCentral Inc. (NYSE: RNG) Could Be Viewed Differently By Investors Because Of These Numbers

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for RingCentral Inc. (RNG) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.07, or -0.20%, to $35.33. The RingCentral Inc. has recorded 47,168 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that RingCentral Selected by Westland Insurance to Provide Unified Communications and Scalability as the Company Experiences Rapid Growth.

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Stocks Info

The company is listed on the NYSE and operates within the Software – Application industry segment. At the end of the last regular session, the stock closed at $35.40 and fluctuated between $35.66 as its day high and $34.10 as its day low. The current market capitalization of RingCentral Inc. is $3.40B. A total of 1.07 million shares were traded on the day, compared to an average of 2.16M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, RNG has seen 9 BUY and 19 SELL insider trades, representing the acquisition of 47,055 and the disposition of 65,343 shares. Over the last 12 months, there were 58 BUYs and 67 SELLs from insiders. Insiders purchased 937,623 shares during that period but sold 237,655.

In the most recent transaction, Shmunis Vladimir sold 38,017 shares of RNG for 39.86 per share on Dec 14. After the transaction, the CEO & Chairman now owns 241,175 company shares. In a previous transaction on Nov 28, Marlow John H sold 5,911 shares at 35.07 per share. RNG shares that SVP, CAO & General Counsel owns now total 193,661.

Among the insiders who sold shares, Katibeh Mohammed disposed of 567 shares on Nov 23 at a per-share price of $34.48. This resulted in the President and COO holding 127,062 shares of RNG after the transaction. In another insider transaction, Agarwal Vaibhav sold 3,148 shares at $34.54 per share on Nov 22. Company shares held by the Chief Accounting Officer now total 99,065.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for RNG in the last 3 months, the mean price target is $52.96 with high estimates of $80.00 and low estimates of $37.00. In terms of 52-week highs and lows, RNG has a high of $198.79 and a low of $28.00.

As of this writing, RNG has an earnings estimate of $0.5 per share for the current quarter. EPS was calculated based on a consensus of 27 estimates, with a high estimate of $0.53 per share and a lower estimate of $0.5. The company reported an EPS of $0.39 in the last quarter, which was 14.70% higher than expectations of $0.34.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 30 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for RNG is Sell with a score of 4.55. A total of 21 analysts rated the stock as Buy while 3 rated it as Overweight while 6 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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