William Blair Remains a Buy on RingCentral (RNG)

In a report released yesterday, Bhavan Suri from William Blair maintained a Buy rating on RingCentral (RNGResearch Report). The company’s shares closed last Tuesday at $269.90.

According to TipRanks.com, Suri is a 5-star analyst with an average return of 33.4% and a 71.2% success rate. Suri covers the Technology sector, focusing on stocks such as Qualtrics International, Procore Technologies, and Altair Engineering.

Currently, the analyst consensus on RingCentral is a Strong Buy with an average price target of $410.00.

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The company has a one-year high of $449.00 and a one-year low of $229.00. Currently, RingCentral has an average volume of 1.12M.

Based on the recent corporate insider activity of 146 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RNG in relation to earlier this year.

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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.