HomeMost PopularRNG Surpasses Analyst Average Target Expectations

RNG Surpasses Analyst Average Target Expectations

Daily Market Recaps (no fluff)

always free

RingCentral Shares Surpass Analyst Price Target: What’s Next?

In recent trading, shares of RingCentral Inc (Symbol: RNG) have crossed above the average analyst 12-month target price of $40.41, changing hands for $41.03/share. When a stock reaches the target set by analysts, they typically consider two options: downgrade the stock based on its valuation or increase their target price. The decision usually hinges on the company’s recent performance and developments that might be influencing the stock’s ascent.

The average target price for RingCentral comes from 17 analysts within the Zacks coverage universe. Although it represents a mathematical mean, there is a range of opinions. One analyst set a lower target at $33.00, while another has a more bullish stance with a target price of $50.00. The overall standard deviation for these estimates is $5.489.

The value of examining the average RNG price target lies in the diverse insights gathered from various analysts, rather than relying solely on one perspective. With RNG surpassing the average target price of $40.41/share, investors might consider assessing the company’s outlook: is this merely a milestone before reaching a higher target, or has the stock’s value become inflated, prompting a reevaluation of investment positions? The following table presents the current views of analysts tracking RingCentral Inc:

Recent RNG Analyst Ratings Breakdown
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 7 7 7 7
Buy ratings: 1 1 1 1
Hold ratings: 11 11 12 12
Sell ratings: 0 0 0 0
Strong sell ratings: 0 0 0 0
Average rating: 2.21 2.21 2.25 2.25

The average rating presented in the last row of the above table is on a scale from 1 to 5, where 1 represents a Strong Buy and 5 indicates a Strong Sell. Data used in this article comes from Zacks Investment Research via Quandl.com. To access the latest Zacks research report on RNG at no cost, click here.

nslideshow 10 ETFs With Most Upside To Analyst Targets »

Also see:

• Materials Stocks Hedge Funds Are Selling
• ATG Historical Stock Prices
• FBNC Dividend Growth Rate

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

Do you want a daily market summary with no fluff?

Simple Straightforward Daily Stock Market Recaps Sent for free,every single trading day: Read Now

Explore More

Simple Straightforward Daily Stock Market Recaps

Get institutional-level analysis to take your trading to the next level, sign up for free and become apart of the community.