RingCentral Inc. (NYSE:RNG)’s traded shares stood at 1.5 million during the last session, with the company’s beta value hitting 0.95. At the close of trading, the stock’s price was $31.97, to imply a decrease of -1.27% or -$0.41 in intraday trading. The RNG share’s 52-week high remains $129.72, putting it -305.76% down since that peak but still an impressive 12.42% since price per share fell to its 52-week low of $28.00. The company has a valuation of $3.15B, with an average of 2.3 million shares in intraday trading volume over the past 10 days and average of 1.92 million shares over the past 3 months.
RingCentral Inc. (NYSE:RNG) trade information
After registering a -1.27% downside in the last session, RingCentral Inc. (RNG) has traded red over the past five days. The stock hit a weekly high of 33.65 this Thursday, 03/16/23, dropping -1.27% in its intraday price action. The 5-day price performance for the stock is -5.58%, and -28.88% over 30 days. With these gigs, the year-to-date price performance is -9.69%. Short interest in RingCentral Inc. (NYSE:RNG) saw shorts transact 4.35 million shares and set a 2.8 days time to cover.
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RingCentral Inc. (RNG) estimates and forecasts
Looking at statistics comparing RingCentral Inc. share performance against respective industry, we note that the company has outperformed competitors. RingCentral Inc. (RNG) shares are -28.70% down over the last 6 months, with its year-to-date growth rate higher than industry average at 54.77% against 11.20%. Revenue is forecast to grow 51.30% this quarter before jumping 61.50% for the next one. The rating firms project that company’s revenue will grow 24.90% compared to the previous financial year.
Revenue forecast for the current quarter as set by 25 analysts is $527.53 million. Meanwhile, for the quarter ending Mar 2023, a total of 22 analyst(s) estimate revenue growth to $544.58 million.Earnings reports from the last fiscal year show that sales brought in $448.5 million and $467.66 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 17.60% before jumping 16.40% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 32.81% for the past 5-year period. While 2023 is set for a -125.10% return in earnings, projections for the next 5 years are at 27.35% annually.
RingCentral Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. RingCentral Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
RingCentral Inc. (NYSE:RNG)’s Major holders
RingCentral Inc. insiders hold 1.40% of total outstanding shares, with institutional holders owning 100.76% of the shares at 102.19% float percentage. In total, 100.76% institutions holds shares in the company, led by Capital World Investors. As of Sep 29, 2022, the company held over 9.9 million shares (or 11.52% of shares), all amounting to roughly $395.42 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 8.93 million shares, or about 10.39% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $356.74 million.
We also have Growth Fund Of America Inc and American Funds Insurance Ser-Growth Fund as the top two Mutual Funds with the largest holdings of the RingCentral Inc. (RNG) shares. Going by data provided on Dec 30, 2022, Growth Fund Of America Inc holds roughly 5.56 million shares. This is just over 6.47% of the total shares, with a market valuation of $196.91 million. Data from the same date shows that the other fund manager holds a little less at 3.13 million, or 3.65% of the shares, all valued at about 110.89 million.