In a report released today, John Difucci from Jefferies reiterated a Buy rating on RingCentral (NYSE: RNG), with a price target of $97. The company’s shares closed yesterday at $81.40, close to its 52-week high of $83.95.
According to TipRanks.com, Difucci is a top 25 analyst with an average return of 23.8% and a 73.3% success rate. Difucci covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, CommVault Systems, and Varonis Systems.
Currently, the analyst consensus on RingCentral is a Strong Buy with an average price target of $89.33.
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The company has a one-year high of $83.95 and a one-year low of $34.65. Currently, RingCentral has an average volume of 853.3K.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock.
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RingCentral, Inc. engages in the provision of global enterprise cloud communications and collaboration solutions. Its solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones; and allow for communication across multiple modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax. It sells its products under the RingCentral Professional, RingCentral Glip, and RingCentral Fax brands. The company was founded by Vlad Vendrow and Vladimir Shmunis in 1999 and is headquartered in Belmont, CA.
