In a report released today, Terry Tillman from SunTrust Robinson maintained a Buy rating on RingCentral (RNG), with a price target of $236.00. The company’s shares closed last Monday at $231.48, close to its 52-week high of $233.81.
According to TipRanks.com, Tillman is a top 25 analyst with an average return of 40.7% and a 85.4% success rate. Tillman covers the Technology sector, focusing on stocks such as Manhattan Associates, Coupa Software, and Instructure.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RingCentral with a $243.15 average price target, a 6.5% upside from current levels. In a report issued on February 5, Merrill Lynch also maintained a Buy rating on the stock with a $237.00 price target.
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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.
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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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