Why Stock Jumps 9.7% Of Ringcentral?

RingCentral, Inc. (NYSE: RNG)  is a provider of software-as-a-service (SaaS) solutions for businesses to support…

RingCentral, Inc. (NYSE: RNG)  is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. This company’s cloud-based business communications solutions are providing a single user identity across multiple locations and devices. These are including smartphones, tablets, personal computers (PCs) and desk phones.  It is allowing for communication across multiple channels that are including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing online meetings, and fax. 

The RNG stock news at https://www.webull.com/quote/nyse-rng company’s products are included RingCentral Office, RingCentral Professional, RingCentral Fax, RingCentral Contact Center and RingCentral Glip. RingCentral Office is a multi-user, enterprise-grade communications solution. Fax capabilities are targeting smaller deployments. RingCentral Fax is an Internet fax subscription that is permitting sending and receiving faxes over the Internet.

Stock Jumps 9.7% 

  • RingCentral, Inc. RNG was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares are changing hands than in a normal session. 
  • This stock, which remained volatile and traded within the range of $138.96–$239.89 in the past one-month time frame, witnessed a sharp increase yesterday.
  • The company has seen a mixed track record when it comes to estimate revisions of three increase and two decreases over the past few months, while the Zacks Consensus Estimate for the current quarter remained unchanged. 
  • The recent price action is encouraging though, so make sure to keep a close watch on this firm shortly. RingCentral currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

 Price

  • A better-ranked stock on the Internet – Software and Services industry is Quotient Technology Inc. QUOTE is holding a Zacks Rank #1 (Strong Buy). 
  • You can see the complete list of today’s Zacks #1 Rank stocks there.

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