Time To “Buy” RingCentral (RNG), Rosenblatt Confirms

September 8, 2018 - By Lisa Delgado

RingCentral, Inc. (NYSE:RNG) Logo

Investors 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.

Oz Mngmt L P stated it has 0.04% of its portfolio in RingCentral, Inc. (NYSE:RNG). Los Angeles Management Equity has 0.01% invested in RingCentral, Inc. (NYSE:RNG). Bailard Inc has invested 0.19% in RingCentral, Inc. (NYSE:RNG). Southpoint Cap Advisors L P invested in 200,000 shares or 0.56% of the stock. Ameriprise Fincl invested 0% in RingCentral, Inc. (NYSE:RNG). Moreover, Bluecrest Cap Mgmt Ltd has 0.02% invested in RingCentral, Inc. (NYSE:RNG) for 7,707 shares. Wells Fargo & Mn accumulated 390,639 shares. 12 West Cap L P owns 300,000 shares. Thompson Davis Communications invested 0.8% in RingCentral, Inc. (NYSE:RNG). 12,159 were reported by Aperio Group Ltd Liability Corp. Verition Fund Limited Liability Company reported 3,271 shares. Product Partners Ltd Liability holds 133,964 shares or 0.29% of its portfolio. Gilder Gagnon Howe Limited Liability Com accumulated 2.94 million shares. 22,200 are owned by Mackay Shields Lc. Invesco, Georgia-based fund reported 154,270 shares.

Since March 7, 2018, it had 0 buys, and 20 insider sales for $25.60 million activity. Shah Praful sold $732,280 worth of stock or 10,000 shares. Shares for $188,910 were sold by Dhruv Mitesh. Another trade for 12,500 shares valued at $928,250 was sold by Marlow John H. Shares for $1.84M were sold by Shmunis Vladimir. 2,000 shares were sold by THEIS ROBERT I, worth $150,000 on Tuesday, May 29. Another trade for 6,789 shares valued at $501,707 was sold by Michelle McKenna.

How Rosenblatt Currently Rates RingCentral (RNG)

Rosenblatt has initiated coverage on RingCentral (RNG) shares recently in a note made public on 7 September. The company has decided to place a “Buy” rating on RNG stock.

The stock increased 0.59% or $0.55 during the last trading session, reaching $93.9. About 663,927 shares traded. RingCentral, Inc. (RNG) has risen 114.00% since September 8, 2017 and is uptrending. It has outperformed by 101.43% the S&P500.

Analysts await RingCentral, Inc. (NYSE:RNG) to report earnings on November, 14. They expect $-0.06 EPS, up 14.29 % or $0.01 from last year’s $-0.07 per share. After $-0.01 actual EPS reported by RingCentral, Inc. for the previous quarter, Wall Street now forecasts 500.00 % negative EPS growth.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $7.48 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.

More recent RingCentral, Inc. (NYSE:RNG) news were published by: Seekingalpha.com which released: “RingCentral: Time To Ring In Some Profits” on August 20, 2018. Also Foxbusiness.com published the news titled: “AT&T and RingCentral Continue to Play Nice” on September 06, 2018. Fool.com‘s news article titled: “Why Cloud Communications Stocks Soared in August” with publication date: September 06, 2018 was also an interesting one.

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

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