In a report released on January 26, Michael Turrin from Wells Fargo maintained a Hold rating on RingCentral (RNG – Research Report), with a price target of $36.00. The company’s shares closed last Friday at $34.94.
According to TipRanks, Turrin is an analyst with an average return of -3.5% and a 51.34% success rate. Turrin covers the Technology sector, focusing on stocks such as Microsoft, Five9, and 8X8.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for RingCentral with a $39.80 average price target, implying a 13.91% upside from current levels. In a report released on January 12, Piper Sandler also assigned a Hold rating to the stock with a $34.00 price target.
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The company has a one-year high of $49.32 and a one-year low of $25.08. Currently, RingCentral has an average volume of 1.43M.
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RingCentral (RNG) Company Description:
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.
Read More on RNG:
- RingCentral price target raised to $34 from $32 at Piper Sandler
- The cloud automation software stocks to own in 2024, according to Piper Sandler
- Wells Fargo downgrades RingCentral to Equal Weight, keeps $36 price target
- RingCentral downgraded to Equal Weight from Overweight at Wells Fargo
- RingCentral price target lowered by $1 at Morgan Stanley, here’s why
