RingCentral (RNG) Gets a Hold Rating from Morgan Stanley

Morgan Stanley analyst Meta Marshall maintained a Hold rating on RingCentral (RNG) today and set a price target of $205.00. The company’s shares closed last Monday at $232.29, close to its 52-week high of $233.81.

According to TipRanks.com, Marshall is a 1-star analyst with an average return of -1.4% and a 62.2% success rate. Marshall covers the Consumer Goods sector, focusing on stocks such as Lumentum Holdings, Cisco Systems, and Plantronics.

RingCentral has an analyst consensus of Strong Buy, with a price target consensus of $243.15.

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The company has a one-year high of $233.81 and a one-year low of $98.19. Currently, RingCentral has an average volume of 916.5K.

Based on the recent corporate insider activity of 129 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RNG in relation to earlier this year.

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.

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