RingCentralRNG
Market Cap: $2.58B
About: RingCentral is a unified communications as a service, or UCaaS, provider. Its software helps users communicate and collaborate via voice, video, and messaging across all device types and all from one platform. RingCentral helps customers modernize and move from legacy on-premises systems to modern, cloud-based systems. Beyond its core RingCentral MVP solution, RingCentral also offers a cloud-based contact center solution, a stand-alone video meetings solution, and webinars.
Employees: 4,084
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
43% more first-time investments, than exits
New positions opened: 60 | Existing positions closed: 42
24% more repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 79
7% more funds holding
Funds holding: 257 [Q1] → 275 (+18) [Q2]
1% more call options, than puts
Call options by funds: $35.5M | Put options by funds: $35.1M
0.58% more ownership
Funds ownership: 97.39% [Q1] → 97.97% (+0.58%) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]
19% less capital invested
Capital invested by funds: $2.79B [Q1] → $2.27B (-$516M) [Q2]
Research analyst outlook
8 Wall Street Analysts provided 1 year price targets over the past 3 months
8 analyst ratings
Deutsche Bank Matthew Niknam 47% 1-year accuracy 7 / 15 met price target | 60%upside $45 | Buy Maintained | 6 Aug 2024 |
Baird William Power 53% 1-year accuracy 9 / 17 met price target | 28%upside $36 | Neutral Maintained | 5 Aug 2024 |
Needham Ryan Koontz 45% 1-year accuracy 40 / 88 met price target | 50%upside $42 | Buy Reiterated | 5 Aug 2024 |
Wells Fargo Michael Turrin 54% 1-year accuracy 40 / 74 met price target | 25%upside $35 | Equal-Weight Maintained | 2 Aug 2024 |
Northland Capital Markets Michael Latimore 35% 1-year accuracy 6 / 17 met price target | 78%upside $50 | Outperform Maintained | 2 Aug 2024 |
Financial journalist opinion
Based on 9 articles about RNG published over the past 30 days