RingCentral (RNG) Receiving Somewhat Favorable News Coverage, Report Shows

News headlines about RingCentral (NYSE:RNG) have trended somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. RingCentral earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned news articles about the software maker an impact score of 46.414966247192 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

These are some of the news articles that may have impacted Accern’s scoring:

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Shares of NYSE:RNG traded up $1.55 on Friday, hitting $63.50. The company had a trading volume of 785,304 shares, compared to its average volume of 765,504. RingCentral has a 1 year low of $26.98 and a 1 year high of $69.60. The stock has a market cap of $4,995.61, a price-to-earnings ratio of -181.43 and a beta of 0.68.

RingCentral (NYSE:RNG) last issued its quarterly earnings results 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. RingCentral had a negative net margin of 5.21% and a negative return on equity of 16.54%. The company had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $136.34 million. During the same period last year, the company posted $0.03 EPS. RingCentral’s revenue was up 34.4% on a year-over-year basis. equities research analysts expect that RingCentral will post -0.24 earnings per share for the current fiscal year.

RingCentral announced that its board has authorized a share repurchase plan on Tuesday, February 27th that permits the company to buyback $35.00 million in shares. This buyback authorization permits the software maker to purchase shares of its stock through a private placement purchase. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

A number of research firms have weighed in on RNG. TheStreet upgraded shares of RingCentral from a “d+” rating to a “c-” rating in a research note on Monday, February 12th. Stephens restated a “buy” rating and set a $60.00 price target on shares of RingCentral in a research note on Tuesday, February 13th. SunTrust Banks upped their target price on shares of RingCentral to $60.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Craig Hallum upped their target price on shares of RingCentral from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Oppenheimer upped their target price on shares of RingCentral from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. RingCentral presently has an average rating of “Buy” and an average target price of $53.79.

In other news, CEO Vladimir Shmunis sold 52,509 shares of RingCentral stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $64.06, for a total value of $3,363,726.54. Following the completion of the sale, the chief executive officer now directly owns 300,154 shares in the company, valued at $19,227,865.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Praful Shah sold 10,000 shares of RingCentral stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $47.65, for a total transaction of $476,500.00. Following the completion of the sale, the insider now owns 306,050 shares of the company’s stock, valued at $14,583,282.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,196 shares of company stock valued at $12,100,608. 14.53% of the stock is owned by company insiders.

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About RingCentral

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.

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

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