RingCentral (NYSE:RNG) Rating Reaffirmed
RingCentral (NYSE:RNG) just had their share rating of a ‘”Outperform”‘ issued by research analysts at RBC Capital Markets, who now has a $26.00 PT on the $1.61 billion market cap company or a 14.84% upside potential. This key information was released in analysts report on Wednesday, 2 December.
From a total of 11 analysts covering RingCentral (NYSE:RNG) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 92% of the ratings are positive. The highest target price is $28 while the lowest target price is $20. The mean of all analyst targets is $25.18 with a 10.42% above today’s ($22.64) stock price. RingCentral was the topic of 10 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Oppenheimer maintained shares on November 3 with “Outperform” rating. Canaccord Genuity initiated RNG stock in a recent report from August 10 with “Buy” rating.
The stock closed the day at $22.64 during the previous session. It is down 28.34% since April 29, 2015 and is uptrending. It has outperformed by 28.54% the S&P500.
RingCentral, Inc. is a provider of software-as-a-service solutions for business communications. The company has a market cap of $1.61 billion. The Company’s products are RingCentral Office, RingCentral Professional and RingCentral Fax, which it sells as monthly subscriptions to its customers. It currently has negative earnings. The Company’s flagship product RingCentral Office is a multi-location, multi-user, enterprise-grade communications solution that enables employees to communicate through different channels and on multiple devices.
According to Zacks Investment Research, “RingCentral, Inc. provides solutions for business communications primarily in the United States. The Company’s products include RingCentral Office, RingCentral Mobile and RingCentral Fax. It provides solutions such as auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers and elegant integration with Smartphones. RingCentral, Inc. is headquartered in San Mateo, California.” Get a free copy of the Zacks research report on RingCentral Inc (RNG).