Media coverage about RingCentral (NYSE:RNG) has been trending somewhat positive recently, Accern Sentiment reports. The research firm rates the sentiment of media coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RingCentral earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned media headlines about the software maker an impact score of 44.2708536429576 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern’s rankings:
Several research analysts have commented on RNG shares. JPMorgan Chase & Co. downgraded RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Tuesday, December 12th. Oppenheimer lifted their target price on RingCentral from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. Bank of America lifted their target price on RingCentral from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. TheStreet raised RingCentral from a “d+” rating to a “c-” rating in a report on Monday, February 12th. Finally, SunTrust Banks lifted their target price on RingCentral to $60.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.79.
Shares of RingCentral stock traded down $1.35 during trading hours on Thursday, hitting $67.10. The stock had a trading volume of 465,130 shares, compared to its average volume of 644,456. The firm has a market cap of $5,392.90, a P/E ratio of -197.35 and a beta of 0.68. RingCentral has a 12 month low of $26.15 and a 12 month high of $69.60.
RingCentral (NYSE:RNG) last announced its quarterly earnings data on Monday, February 12th. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $140.50 million for the quarter, compared to the consensus estimate of $136.34 million. RingCentral had a negative return on equity of 16.54% and a negative net margin of 5.21%. The firm’s revenue was up 34.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. equities analysts predict that RingCentral will post -0.24 EPS for the current fiscal year.
RingCentral declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 27th that allows the company to repurchase $35.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase shares of its stock through a private placement purchase. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Vladimir Shmunis sold 52,509 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.06, for a total value of $3,363,726.54. Following the transaction, the chief executive officer now directly owns 300,154 shares of the company’s stock, valued at approximately $19,227,865.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John H. Marlow sold 12,639 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $63.58, for a total value of $803,587.62. Following the completion of the transaction, the chief accounting officer now directly owns 120,355 shares in the company, valued at $7,652,170.90. The disclosure for this sale can be found here. Insiders sold a total of 193,196 shares of company stock worth $12,100,608 over the last three months. 14.53% of the stock is owned by company insiders.
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RingCentral Company Profile
RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.
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