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Monday, June 07, 2021 4:05:31 PM
Should You Buy the Dip in RingCentral (RNG) Stock?
By: Schaeffer's Investment Research | June 7, 2021
• RingCentral stock remains on a bearish trajectory
• RNG has declined 35% over the past 5 months
RingCentral, Inc. (NYSE:RNG) is an American company that provides cloud-based communications and collaboration solutions for businesses on their Message Video Phone global platform. RingCentral offers three key products in its portfolio including RingCentral MVP, a Unified Communications as a Service platform including team messaging, video meetings, and cloud phone systems.
On June 1, RingCentral announced a major partnership with Deutsche Telekom in order to deliver mobility-centric, flexible, easy to use, and secure cloud communication solutions. RNG also stated that the partnership will bring the benefits of next-generation communications and collaboration capabilities to companies of every size. The partnership will also offer Deutsche Telekom’s customers a co-branded version of RingCentral Video as a stand-alone video solution.
RingCentral stock is about flat year-over-year, but has managed to add around 10% since since touching its September low of $229.00. Additionally, shares of RingCentral stock have dropped 33% year-to-date and are currently trading down 43% from its February record-high of $449.00.
Overall, RingCentral is still a company in its early growth stages, which is apparent by the company’s high revenue growth rate and continued lack of profitability. Despite four straight quarterly earnings beats over the past 12 months, RingCentral stock remains in the early growth stages. In general, RNG is an intriguing speculative play, especially after the RingCentral stock’s big downward move this year.
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DiscoverGold
By: Schaeffer's Investment Research | June 7, 2021
• RingCentral stock remains on a bearish trajectory
• RNG has declined 35% over the past 5 months
RingCentral, Inc. (NYSE:RNG) is an American company that provides cloud-based communications and collaboration solutions for businesses on their Message Video Phone global platform. RingCentral offers three key products in its portfolio including RingCentral MVP, a Unified Communications as a Service platform including team messaging, video meetings, and cloud phone systems.
On June 1, RingCentral announced a major partnership with Deutsche Telekom in order to deliver mobility-centric, flexible, easy to use, and secure cloud communication solutions. RNG also stated that the partnership will bring the benefits of next-generation communications and collaboration capabilities to companies of every size. The partnership will also offer Deutsche Telekom’s customers a co-branded version of RingCentral Video as a stand-alone video solution.
RingCentral stock is about flat year-over-year, but has managed to add around 10% since since touching its September low of $229.00. Additionally, shares of RingCentral stock have dropped 33% year-to-date and are currently trading down 43% from its February record-high of $449.00.
Overall, RingCentral is still a company in its early growth stages, which is apparent by the company’s high revenue growth rate and continued lack of profitability. Despite four straight quarterly earnings beats over the past 12 months, RingCentral stock remains in the early growth stages. In general, RNG is an intriguing speculative play, especially after the RingCentral stock’s big downward move this year.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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