Are Analysts Bearish RingCentral Inc (NYSE:RNG) After Last Week?

Out of 9 analysts covering RingCentral (NYSE:RNG), 8 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 80% are positive. RingCentral was the topic in 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Below is a list of RingCentral Inc (NYSE:RNG) latest ratings and price target changes.

05/02/2016 Broker: Jefferies Rating: Buy Old Target: $25.00 New Target: $27.00 Target Up
17/12/2015 Broker: Morgan Stanley Old Rating: Overweight New Rating: Equal-Weight Downgrade
16/12/2015 Broker: Oppenheimer Rating: Outperform Old Target: $25 New Target: $29 Maintain
09/12/2015 Broker: RBC Capital Markets Rating: Outperform Old Target: $26 New Target: $27 Maintain
02/12/2015 Broker: RBC Capital Markets Rating: Outperform Old Target: $23 New Target: $26 Maintain
03/11/2015 Broker: Jefferies Rating: Buy Old Target: $23.00 New Target: $25.00 Target Up
03/11/2015 Broker: Raymond James Rating: Strong Buy Old Target: $27.00 New Target: $28.00 Target Up
03/11/2015 Broker: Oppenheimer Rating: Outperform Old Target: $23.00 New Target: $25.00 Maintain
06/10/2015 Broker: RBC Capital Markets Rating: Outperform New Target: $23.00 Initiate

The stock increased 0.31% or $0.06 during the last trading session, hitting $19.13. About 469,868 shares traded hands. RingCentral Inc (NYSE:RNG) has risen 6.54% since July 30, 2015 and is uptrending. It has outperformed by 11.69% the S&P500.

RingCentral, Inc. is a provider of software-as-a-service solutions for business communications. The company has a market cap of $1.38 billion. The Company’s products are RingCentral Office, RingCentral Professional and RingCentral Fax, which it sells as monthly subscriptions to its customers. It currently has negative earnings. The Company’s flagship product RingCentral Office is a multi-location, multi-user, enterprise-grade communications solution that enables employees to communicate through different channels and on multiple devices.

The institutional sentiment decreased to 1.63 in 2015 Q3. Its down 0.30, from 1.93 in 2015Q2. The ratio fall, as 14 funds sold all RingCentral Inc shares owned while 37 reduced positions. 25 funds bought stakes while 58 increased positions. They now own 41.75 million shares or 2.40% less from 42.78 million shares in 2015Q2.

1492 Capital Management Llc holds 2.88% of its portfolio in RingCentral Inc for 222,476 shares. Alphaone Investment Services Llc owns 293,190 shares or 2.26% of their US portfolio. Moreover, Westerly Capital Management Llc has 1.96% invested in the company for 90,000 shares. The Washington-based First Washington Corp has invested 1.73% in the stock. S Squared Technology Llc, a New York-based fund reported 78,500 shares.

Since March 9, 2015, the stock had 0 buys, and 5 insider sales for $439,358 net activity. Shah Praful sold 5,000 shares worth $93,750. Sipes David sold 1,742 shares worth $33,098. Makagon Kira sold 859 shares worth $16,386. Marlow John H sold 1,130 shares worth $21,556. The insider Shmunis Vladimir sold 50,000 shares worth $1.00 million.

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