During the morning session, RingCentral moved -1.27%, compared to -1.3% for the S&P 500.
RingCentral, Inc. offers software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company is now trading -37.46% away from its average analyst target price of $51.12 per share. The 25 analysts following the stock have set target prices ranging from $38.0 to $65.0, and on average give RingCentral a rating of buy.
Over the last year, RNG shares have gone down by -72.23%, which represents a difference of -60.96% when compared to the S&P 500. The stock's 52 week high is $129.72 per share and its 52 week low is $28.0. With its gross margins declining an average -2.84% over the last four years, RingCentral may not have a strong enough business to reverse this trend.
| Date Reported | Revenue (k) | Cost of Revenue (k) | Gross Margin | YoY Growth |
|---|---|---|---|---|
| 2022-12-31 | $1,983,523 | $2,543,772 | 67.89% | -9.47% |
| 2021-12-31 | $1,528,636 | $1,712,093 | 74.99% | -1.99% |
| 2020-12-31 | $1,124,046 | $1,183,024 | 76.51% | 0.5% |
| 2019-12-31 | $882,451 | $850,040 | 76.13% | -3.23% |
| 2018-12-31 | $656,571 | $612,291 | 78.67% | n/a |
