RingCentral (RNG) Surges after Morgan Stanley Upgrade

By Blake Campbell • Wednesday, December 14 15:36 • Permanent Link

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.