RingCentral rose 6.6% during the afternoon session to $41.53 per share. As reported by Barrons: "RingCentral Stock Rallies After Morgan Stanley Turns Bullish ..." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.
RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, RingCentral has a trailing 12 month P/E ratio of -44.4 and a P/B ratio of 12.2.
At today's price of $41.53 per share, RingCentral is -50.17% away from its target price of $83.35, and on average, analysts give the stock a rating of buy. 10.0% of the company's shares are linked to short positions, and 89.3% of the shares are owned by institutional investors.