Ringcentral (RNG) Getting Somewhat Positive News Coverage, Study Shows

News coverage about Ringcentral (NYSE:RNG) has trended somewhat positive this week, Accern reports. The research group scores the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Ringcentral earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave media stories about the software maker an impact score of 44.9362066593129 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:

Shares of Ringcentral (NYSE RNG) traded down $0.95 during trading on Tuesday, hitting $46.60. The stock had a trading volume of 625,528 shares, compared to its average volume of 662,459. Ringcentral has a twelve month low of $20.55 and a twelve month high of $49.95.

Ringcentral (NYSE:RNG) last announced its quarterly earnings results on Wednesday, November 8th. The software maker reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $129.76 million for the quarter, compared to analyst estimates of $126.06 million. Ringcentral had a negative return on equity of 17.97% and a negative net margin of 5.80%. The company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. sell-side analysts expect that Ringcentral will post -0.33 earnings per share for the current year.

A number of equities analysts have weighed in on the company. J P Morgan Chase & Co lowered Ringcentral from an “overweight” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Tuesday. Zacks Investment Research lowered Ringcentral from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Craig Hallum reissued a “buy” rating and set a $50.00 price objective (up previously from $40.00) on shares of Ringcentral in a research note on Thursday, November 9th. Northland Securities reissued a “buy” rating and set a $46.00 price objective on shares of Ringcentral in a research note on Friday, November 10th. Finally, Oppenheimer boosted their price objective on Ringcentral from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.14.

In related news, COO David Sipes sold 7,800 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $42.11, for a total value of $328,458.00. Following the sale, the chief operating officer now owns 293,380 shares in the company, valued at approximately $12,354,231.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vladimir Shmunis sold 101,453 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $48.34, for a total value of $4,904,238.02. Following the completion of the sale, the chief executive officer now owns 355,041 shares in the company, valued at approximately $17,162,681.94. The disclosure for this sale can be found here. Insiders sold a total of 398,242 shares of company stock worth $18,034,844 in the last quarter. Company insiders own 14.53% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Ringcentral (RNG) Getting Somewhat Positive News Coverage, Study Shows” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://ledgergazette.com/2017/12/13/ringcentral-rng-receiving-somewhat-favorable-news-coverage-report-finds.html.

Ringcentral Company Profile

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

Insider Buying and Selling by Quarter for Ringcentral (NYSE:RNG)

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.

Leave a Reply