SunTrust Robinson Believes RingCentral (RNG) Still Has Room to Grow


In a report released yesterday, Terry Tillman from SunTrust Robinson reiterated a Buy rating on RingCentral (NYSE: RNG), with a price target of $100. The company’s shares opened today at $88.70, close to its 52-week high of $90.05.

According to TipRanks.com, Tillman is a top 100 analyst with an average return of 35.4% and a 83.5% success rate. Tillman covers the Technology sector, focusing on stocks such as Manhattan Associates, Coupa Software Inc, and Ultimate Software.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for RingCentral with a $94.22 average price target, a 6.2% upside from current levels. In a report released today, Jefferies also reiterated a Buy rating on the stock with a $97 price target.

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The company has a one-year high of $90.05 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.

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