Rosenblatt Securities analyst Ryan Koontz maintained a Buy rating on RingCentral (RNG) yesterday and set a price target of $160.00. The company’s shares closed last Monday at $127.54.
According to TipRanks.com, Koontz is a 4-star analyst with an average return of 12.7% and a 52.8% success rate. Koontz covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, CommScope Holding, and Juniper Networks.
RingCentral has an analyst consensus of Strong Buy, with a price target consensus of $156.45.
See today’s analyst top recommended stocks >>
Based on RingCentral’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.24 million. In comparison, last year the company had a GAAP net loss of $9.52 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
