Were Analysts Bearish RingCentral, Inc. (NYSE:RNG) This Week?

August 18, 2018 - By Kristin Houston

RingCentral, Inc. (NYSE:RNG) LogoInvestors sentiment increased to 1.16 in Q1 2018. Its up 0.19, from 0.97 in 2017Q4. It increased, as 11 investors sold RingCentral, Inc. shares while 79 reduced holdings. 58 funds opened positions while 46 raised stakes. 57.87 million shares or 3.07% more from 56.14 million shares in 2017Q4 were reported.
Clearbridge Investments Ltd Liability Company invested in 0% or 24 shares. Eagle Asset Management Inc invested in 0.1% or 290,874 shares. Moreover, Intll Gru has 0.01% invested in RingCentral, Inc. (NYSE:RNG). Pdt Prtn Ltd Liability invested in 0.29% or 133,964 shares. Cibc Ww Markets Inc has 0% invested in RingCentral, Inc. (NYSE:RNG) for 4,450 shares. Jacobs Levy Equity Incorporated invested in 199,716 shares or 0.21% of the stock. The New York-based 12 West Capital Management Ltd Partnership has invested 2.09% in RingCentral, Inc. (NYSE:RNG). Sg Americas Ltd Liability holds 11,094 shares. Cortina Asset Mngmt Limited Liability Corp reported 0.31% in RingCentral, Inc. (NYSE:RNG). Deutsche Bank & Trust Ag has invested 0.01% of its portfolio in RingCentral, Inc. (NYSE:RNG). Aqr Capital Mngmt Ltd Liability owns 157,662 shares or 0.01% of their US portfolio. Retail Bank Of America De holds 0.01% or 527,232 shares in its portfolio. Geode Capital Mngmt Limited Liability Company has invested 0.01% in RingCentral, Inc. (NYSE:RNG). Aristeia Cap Ltd Liability Corporation, a New York-based fund reported 81,700 shares. Tiaa Cref Invest Management Ltd invested 0.02% in RingCentral, Inc. (NYSE:RNG).

Since February 20, 2018, it had 0 insider purchases, and 22 selling transactions for $20.29 million activity. 15,300 shares valued at $955,155 were sold by Sipes David on Friday, February 23. $803,642 worth of RingCentral, Inc. (NYSE:RNG) was sold by Marlow John H. 6,789 shares valued at $501,707 were sold by Michelle McKenna on Tuesday, May 29. 3,000 shares were sold by Dhruv Mitesh, worth $202,469. On Monday, May 21 the insider Shmunis Vladimir sold $4.63M. Shares for $661,300 were sold by Shah Praful on Thursday, March 8.

RingCentral, Inc. (NYSE:RNG) Ratings Coverage

Among 9 analysts covering RingCentral (NYSE:RNG), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. RingCentral had 10 analyst reports since March 16, 2018 according to SRatingsIntel. The firm has “Neutral” rating given on Friday, June 15 by JP Morgan. The stock has “Neutral” rating by Robert W. Baird on Tuesday, August 7. The firm has “Buy” rating by Northland Capital given on Monday, April 23. The firm has “Buy” rating given on Thursday, May 10 by Craig Hallum. On Friday, April 27 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. Jefferies maintained the stock with “Buy” rating in Friday, March 16 report. Oppenheimer maintained the stock with “Outperform” rating in Tuesday, June 19 report. Bank of America maintained the stock with “Buy” rating in Tuesday, August 7 report. The firm has “Buy” rating by Jefferies given on Friday, June 15. Below is a list of RingCentral, Inc. (NYSE:RNG) latest ratings and price target changes.

07/08/2018 Broker: Bank of America Old Rating: Buy New Rating: Buy Old Target: $86 New Target: $95 Maintain
07/08/2018 Broker: Robert W. Baird Old Rating: Neutral New Rating: Neutral Old Target: $80 New Target: $90 Maintain
12/07/2018 Broker: Stifel Nicolaus Rating: Buy New Target: $100 Initiates Coverage On
15/06/2018 Broker: Jefferies Rating: Buy New Target: $91.0000 Maintain
19/06/2018 Broker: Oppenheimer Old Rating: Outperform New Rating: Outperform Old Target: $79 New Target: $92 Maintain
15/06/2018 Broker: JP Morgan Old Rating: Neutral New Rating: Neutral Old Target: $76 New Target: $84 Maintain
10/05/2018 Broker: Craig Hallum Rating: Buy New Target: $84.0000 Maintain
27/04/2018 Broker: Morgan Stanley Old Rating: Equal-Weight New Rating: Equal-Weight Old Target: $60 New Target: $66 Maintain
23/04/2018 Broker: Northland Capital Rating: Buy New Target: $75.0000 Maintain
16/03/2018 Broker: Jefferies Rating: Buy New Target: $81.0 Maintain

The stock increased 0.22% or $0.2 during the last trading session, reaching $89.3. About 340,626 shares traded. RingCentral, Inc. (NYSE:RNG) has risen 114.00% since August 18, 2017 and is uptrending. It has outperformed by 101.43% the S&P500.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $7.11 billion. The companyÂ’s products include RingCentral Office, a multi-tenant, multi-location, enterprise-grade communications solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing, including smartphones, tablets, PCs, and desk phones for businesses that require a communications solution; RingCentral Professional, an inbound call routing subscription with text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that provides Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine. It currently has negative earnings. The Company’s products also comprise RingCentral Contact Center, which provides a cloud based contact center solution that delivers multi-channel capabilities; and RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office.

RingCentral, Inc. (NYSE:RNG) Institutional Positions Chart

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