Colliers Securities analyst Catharine Trebnick reiterated a Buy rating on RingCentral (RNG) today and set a price target of $470.00. The company’s shares closed last Tuesday at $296.67.
According to TipRanks.com, Trebnick is a 3-star analyst with an average return of 8.5% and a 49.1% success rate. Trebnick covers the Technology sector, focusing on stocks such as Ping Identity Holding, Palo Alto Networks, and CyberArk Software.
RingCentral has an analyst consensus of Strong Buy, with a price target consensus of $466.53, implying a 51.7% upside from current levels. In a report issued on April 20, Merrill Lynch also initiated coverage with a Buy rating on the stock with a $450.00 price target.
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The company has a one-year high of $449.00 and a one-year low of $216.10. Currently, RingCentral has an average volume of 955.5K.
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Founded in 1999, California-based RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company’s products include RingCentral Professional, RingCentral Office, RingCentral Glip, and RingCentral Fax.