Shares of RingCentral Inc. Class A (NYSE:RNG) traded at a new 52-week high today of $405.47. This new high was reached on below average trading volume as 51,000 shares traded hands, while the average 30-day volume is approximately 770,000 shares.
RingCentral is a unified-communication-as-a-service, or UCaaS, provider. RingCentral’s software provides an easy-to-use, integrated communication application that allows for a single user experience across mobile and desktop applications. The software lets businesses communicate and collaborate using voice, video, text, Internet messaging, and conference calls on a single platform. Ninety percent of RingCentral’s revenue comes from its RingCentral Office application, which is available in four tiers based on integration needs and the number of employees. The company was founded in 1999 and is headquartered in Belmont, California.
Over the past year, RingCentral Inc. Class A has traded in a range of $134.85 to $405.47 and is now at $402.71, 199% above that low.
RingCentral Inc. Class A (NYSE:RNG) is currently priced 49.9% above its average consensus analyst price target of $201.79.
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