Somewhat Positive Media Coverage Somewhat Unlikely to Impact RingCentral (NYSE:RNG) Share Price

News stories about RingCentral (NYSE:RNG) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. RingCentral earned a news impact score of 0.16 on Accern’s scale. Accern also assigned press coverage about the software maker an impact score of 45.8263555895208 out of 100, meaning 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 news stories that may have impacted Accern’s rankings:

Shares of NYSE RNG traded down $0.30 during mid-day trading on Thursday, reaching $64.65. 714,198 shares of the company were exchanged, compared to its average volume of 649,697. The stock has a market capitalization of $5,015.28, a P/E ratio of -184.71 and a beta of 0.67. RingCentral has a 1 year low of $26.98 and a 1 year high of $69.60.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Monday, February 12th. The software maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 34.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. analysts predict that RingCentral will post -0.24 EPS for the current year.

RingCentral announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 27th that authorizes the company to buyback $35.00 million in shares. This buyback authorization authorizes the software maker to repurchase shares of its stock through a private placement purchase. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several equities research analysts have weighed in on RNG shares. Oppenheimer upped 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. JPMorgan Chase cut RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Tuesday, December 12th. Morgan Stanley set a $60.00 target price on RingCentral and gave the stock a “hold” rating in a report on Tuesday, February 13th. Bank of America upped 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. Finally, Northland Securities set a $61.00 target price on RingCentral and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $53.79.

In related news, CEO Vladimir Shmunis sold 52,509 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CAO John H. Marlow sold 2,639 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $62.35, for a total value of $164,541.65. Following the transaction, the chief accounting officer now directly owns 120,355 shares in the company, valued at $7,504,134.25. The disclosure for this sale can be found here. Insiders have sold a total of 196,196 shares of company stock valued at $12,434,018 over the last 90 days. 14.53% of the stock is currently 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.

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

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