Press coverage about RingCentral (NYSE:RNG) has trended somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. RingCentral earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave press coverage about the software maker an impact score of 45.8263555895208 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the media headlines that may have effected Accern Sentiment Analysis’s scoring:
- Insider Selling: RingCentral Inc (RNG) CEO Sells 8,018 Shares of Stock (americanbankingnews.com)
- RingCentral Inc (RNG) CEO Vladimir Shmunis Sells 8,019 Shares (americanbankingnews.com)
- Steady Activities: RingCentral, Inc. (NYSE:RNG), Alkermes plc (NASDAQ:ALKS) – The Oracle Examiner (oracleexaminer.com)
- RingCentral, Inc., (NYSE: RNG) – An Eye on Data – Stock Watch (stocksnewstimes.com)
- RingCentral Inc (RNG) COO Sells $610,173.00 in Stock (americanbankingnews.com)
Shares of RingCentral (NYSE RNG) opened at $66.10 on Wednesday. The stock has a market cap of $5,160.00, a PE ratio of -76.86 and a beta of 0.68. RingCentral has a 1 year low of $25.92 and a 1 year high of $67.70.
RingCentral announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that permits the company to buyback $35.00 million in shares. This buyback authorization permits the software maker to buy shares of its stock through a private placement purchase. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently commented on the stock. Northland Securities set a $61.00 price objective on shares of RingCentral and gave the stock a “buy” rating in a report on Tuesday, February 13th. Zacks Investment Research raised shares of RingCentral from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday, November 14th. TheStreet raised shares of RingCentral from a “d+” rating to a “c-” rating in a report on Monday, February 12th. Bank of America raised their price objective on shares of RingCentral from $57.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.79.
In related news, CFO Mitesh Dhruv sold 3,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $47.85, for a total transaction of $143,550.00. Following the completion of the sale, the chief financial officer now owns 132,087 shares in the company, valued at approximately $6,320,362.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Shmunis sold 52,509 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.06, for a total transaction of $3,363,726.54. Following the sale, the chief executive officer now owns 300,154 shares of the company’s stock, valued at approximately $19,227,865.24. The disclosure for this sale can be found here. Insiders have sold a total of 203,196 shares of company stock valued at $12,518,188 in the last quarter. 14.53% of the stock is currently owned by corporate insiders.
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.
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.