There wasn't too much excitement in Ringcentral today which only managed to move up 0.65% on the day.
Currently RNG isn't at a clear support/resistance line that seems tradable. Ringcentral hasn't established a very strong momentum in either direction over the last 3 months. We'll see if a stronger consensus among market participants emerges. RNG might find some support at the 25.35 level, buyers might push the price back up from here. But it's not very clear what will happen.
Overall, the analysts have a more negative view on RINGCENTRAL but it's not a very strong negative. The current Analysts Sentiment Score is -31.12. Most companies range between (-200 to 200).
Here's a break down of the latest rating changes. Needham & Company LLC dropped their price target by -8.7% to $42.00 on 2024-02-21. Mizuho announced a lowering of their price target to $36.00 from $40.00 on 2024-02-21. Piper Sandler announced a lowering of their price target to $31.00 from $34.00 on 2024-02-21. On 2024-02-21 The Goldman Sachs Group lowered their price target by -10.53% to $34.00. On 2024-02-16 there was confirmation of the previous rating by Wedbush which was Neutral and provided a price target of $40.00. On 2023-12-20 Wells Fargo & Company downgraded RINGCENTRAL from Overweight to Equal Weight and they set their price target at $36.00. Jefferies Financial Group downgraded from Buy to Hold on 2023-12-12 and they lowered their price target by -12.5% to $35.00 from a previous target of $40.00. Rosenblatt Securities reiterated a rating of Neutral on 2023-12-04 and added a price target of $35.00. Raymond James announced a lowering of their price target to $50.00 from $60.00 on 2023-11-07. William Blair reiterated a rating of Outperform on 2023-11-07.
| Company | Ratings Score
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Composite analyst sentiment score
|
Positive Ratings | Negative Ratings | Boost Price Target | Lower Price Target |
|---|---|---|---|---|---|
| RNG | -31.12 | 22.04 | -57.13 | 32.68 | -59.84 |
| Company | YOY Growth Score (typical -20 to +20) | Revision Directions (-6 to +6) |
|---|---|---|
| RNG | 0.00 | 0.00 |
We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.
| Company | Short Score (typical 1-15)
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We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)
|
Short Interest | Days to Cover | Rate of Change | Shares Short |
|---|---|---|---|---|---|
| RNG | 5.16 | %6.19396 | 4.2 | -0.99 | 5250000 |
| Segment | Count | 1 Day% | 5 Day | 1 Month | 3 Month | 6 Month | 1 Year | RSI | 3mo S-momo ? | 6mo S-momo | 1yr S-momo | Resistance ? | Support | Demark Sell ? | Demark Buy | Short Interest | Analysts Ratings ? |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Application Software | 120 | -0.22 | -1.86 | -7.22 | -5.44 | 11.29 | 13.22 | 45.54 | 43.93 | 26.01 | 34.47 | -15538.60 | -15261.37 | 4.58 | 9.17 | 4.38 | 61.11 |
| Technology | 306 | -0.55 | -2.51 | -7.61 | -5.13 | 11.44 | 15.17 | 43.49 | 33.34 | 18.95 | 24.19 | -14888.65 | -12935.99 | 6.45 | 7.92 | 4.68 | 47.10 |
Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.
| Ticker | Social Sentiment(1-10) |
|---|---|
| RNG |
| Company | Score | 1 Day% | 5 Day | 1 Month | 3 Month | 6 Month | 1 Year | RSI | 3mo S-momo ? | 6mo S-momo | 1yr S-momo | Resistance ? | Support | Demark Sell ? | Demark Buy | Short Interest Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TWLO | Twilio Inc. | 1.05 | -0.89 | -1.91 | -5.96 | -20.14 | 4.49 | 0.91 | 52 | 0.16 | -0.51 | 4.83 | -12254.60 | -1476.92 | 0 | 0 | 2.45188 |
| EGHT | 8x8, Inc. Common Stock | 1.05 | 0.93 | -3.98 | -18.11 | -38.87 | -7.66 | -35.03 | 43 | -7.60 | -6.59 | -8.75 | -40349.74 | -1348.88 | 0 | 0 | 7.92577 |
| ROKU | Roku, Inc. Class A Common | 1.03 | -1.69 | -2.10 | -9.25 | -35.04 | -7.65 | -2.07 | 49 | -4.94 | -4.40 | 2.55 | -3258.58 | -3693.29 | 0 | 0 | 4.95594 |
| FVRR | Fiverr International Ltd. | 1.03 | -2.62 | -4.03 | -10.77 | -26.78 | -19.52 | -45.89 | 32 | -12.37 | -14.44 | -17.18 | -17293.38 | -1769.76 | 0 | 0 | 6.33126 |
| WIX | WIX.com Ltd. | 0.95 | 0.01 | -1.75 | -12.60 | -4.02 | 44.84 | 36.19 | 47 | 284.44 | 75.28 | 89.11 | -1225.00 | -28511.35 | 0 | 0 | 4.72105 |
| TDOC | Teladoc Health, Inc. | 0.94 | -1.56 | -4.24 | -13.50 | -36.24 | -28.51 | -52.84 | 43 | -24.98 | -33.71 | -40.36 | -27887.95 | -843.48 | 0 | 0 | 8.78425 |
| ESTC | Elastic N.V. | 0.92 | 1.66 | 2.15 | -5.36 | -17.97 | 17.87 | 61.51 | 23 | 12.64 | 44.03 | 70.04 | -4534.06 | -21955.99 | 0 | 150 | 6.35 |
| FIVN | FIVE9, INC. | 0.9 | 0.63 | 1.71 | -5.01 | -25.69 | -6.79 | -12.64 | 49 | -5.38 | -4.33 | -0.12 | -13356.88 | -1246.28 | 0 | 0 | 3.51063 |
How to use: use the research links to research the asset. Then simply type in a score for each category between (01, 02, 03, 04, 05). 05 being the most bullish and 01 being the most bearish. It will automatically calculate the average and combine it with the technical score to create an overall score to rank prospects by. You can also type notes into each field.
