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RingCentral (RNG, $234.47) beats Q3 earnings expectations; boost guidance
Shares of RingCentral jumped in after hours trading, following the company’s third quarter results that crushed analysts’ expectations.
For the quarter ended Sept. 30, the enterprise cloud-based services company’s non-GAAP net income rose to 36 cents a share from 26 cents in the previous year, exceeding the 33 cents a share expected by analysts polled by FactSet.
Revenue climbed +36.5% from the year-ago quarter to $414.6 million, vs. $393.42 million anticipated by analysts polled by FactSet.
Looking ahead, RingCentral boosted its full year revenue projection to up to $1.581 billion in sales implying annual growth between 33% to 34%, vs. prior forecast of 30% to 31%.
The company also raised full-year non-GAAP earnings per share estimates to $1.32 a share, from its prior projected range of $1.28 a share to $1.30 a share.
RingCentral announced new partnerships with software vendors in the healthcare sector including Ascom, ChronicCareIQ, and Ellkay.
The company has also collaborated with telecom provider MCM Telecom to offer hybrid work using a single app for video conferencing, mobile collaboration, and advanced business phone capabilities.
It has received a license to provide its cloud communications software and voice solutions in India.
RNG's RSI Indicator recovers from oversold territory
The RSI Indicator for RNG moved out of oversold territory on May 13, 2022. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 19 similar instances when the indicator left oversold territory. In 17 of the 19 cases the stock moved higher. This puts the odds of a move higher at 89%.
Throughout the month of 04/12/22 - 05/13/22, the price experienced a -36% Downtrend. During the week of 05/06/22 - 05/13/22, the stock fell -9%.
The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 22 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +12.41% 3-day Advance, the price is estimated to grow further. Considering data from situations where RNG advanced for three days, in 259 of 329 cases, the price rose further within the following month. The odds of a continued upward trend are 79%.
RNG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Moving Average Convergence Divergence Histogram (MACD) for RNG turned negative on April 12, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In 35 of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at 76%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RNG declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 72%.
The Aroon Indicator for RNG entered a downward trend on May 13, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 70%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.71.
The Tickeron Profit vs. Risk Rating rating for this company is 86 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. RNG’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock better than average.
The Tickeron SMR rating for this company is 95 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 96 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: RNG's P/B Ratio (135.135) is slightly higher than the industry average of (16.471). P/E Ratio (0.000) is within average values for comparable stocks, (154.113). Projected Growth (PEG Ratio) (0.896) is also within normal values, averaging (4.591). Dividend Yield (0.000) settles around the average of (0.027) among similar stocks. P/S Ratio (3.758) is also within normal values, averaging (124.483).
The Tickeron Price Growth Rating for this company is 96 (best 1 - 100 worst), indicating slightly worse than average price growth. RNG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
The average market capitalization across the Packaged Software Industry is 6.2B. The market cap for tickers in the group ranges from 580 to 2T. MSFT holds the highest valuation in this group at 2T. The lowest valued company is NANN at 580.
The average weekly price growth across all stocks in the Packaged Software Industry was -4.35%. For the same Industry, the average monthly price growth was -15.54%, and the average quarterly price growth was -24.27%. LAAB experienced the highest price growth at 126%, while SGNI experienced the biggest fall at -97.03%.
- 5/5/22 4:57 AM: RINGCENTRAL (RNG, $88.76) was a top weekly gainer, with a +5.89% jump
- 3/19/22 4:49 AM: RINGCENTRAL (RNG, $122.54) was a top weekly gainer, with a +18.46% jump
The average weekly volume growth across all stocks in the Packaged Software Industry was 19.51%. For the same stocks of the Industry, the average monthly volume growth was 113.59% and the average quarterly volume growth was 41.14%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the MA50 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 55%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.2.
6 stocks in the group of tickers confirmed the negative outlook based on the TrendWeek indicator with average odds of 69%.
The average market capitalization across the group is 4.6B. The market cap for tickers in the group ranges from 26.4M to 15.8B. AKAM holds the highest valuation in this group at 15.8B. The lowest valued company is BSQR at 26.4M.
The average weekly price growth across all stocks in the group was -0.97%. For the same group, the average monthly price growth was -18.47%, and the average quarterly price growth was -37.91%. IMMR experienced the highest price growth at 16.96%, while STEM experienced the biggest fall at -11.72%.
- 5/14/22 4:23 AM: Immersion (IMMR, $5.31) was a top weekly gainer, with a +16.96% jump
- 5/7/22 5:28 AM: Stem (STEM, $8.79) was a top weekly gainer, with a +22.59% jump
- 4/27/22 5:34 AM: Akamai Technologies (AKAM, $115.03) was a top loser this week, declining -5.2%
The average weekly volume growth across all stocks in the group was 1.54%. For the same stocks of the group, the average monthly volume growth was 93.82% and the average quarterly volume growth was 1.4%
- 4/15/22 4:33 AM: The volume for Allot stock increased for one day, resulting in a record-breaking daily growth of 396% of the 65-Day Volume Moving Average
- 3/19/22 4:44 AM: The volume for Allot stock increased for one day, resulting in a record-breaking daily growth of 609% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Adobe (NASDAQ:ADBE), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Intuit (NASDAQ:INTU), SERVICENOW (NYSE:NOW), Activision Blizzard (NASDAQ:ATVI), NetEase (NASDAQ:NTES), Shopify (NYSE:SHOP), Block (NYSE:SQ).
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
The average market capitalization across the Packaged Software Industry is 6.2B. The market cap for tickers in the group ranges from 580 to 2T. MSFT holds the highest valuation in this group at 2T. The lowest valued company is NANN at 580.
The average weekly price growth across all stocks in the Packaged Software Industry was -4.35%. For the same Industry, the average monthly price growth was -15.54%, and the average quarterly price growth was -24.27%. LAAB experienced the highest price growth at 126%, while SGNI experienced the biggest fall at -97.03%.
- 5/14/22 4:23 AM: Immersion (IMMR, $5.31) was a top weekly gainer, with a +16.96% jump
- 5/7/22 5:28 AM: Stem (STEM, $8.79) was a top weekly gainer, with a +22.59% jump
- 4/27/22 5:34 AM: Akamai Technologies (AKAM, $115.03) was a top loser this week, declining -5.2%
The average weekly volume growth across all stocks in the Packaged Software Industry was 19.51%. For the same stocks of the Industry, the average monthly volume growth was 113.57% and the average quarterly volume growth was 41.15%
- 4/15/22 4:33 AM: The volume for Allot stock increased for one day, resulting in a record-breaking daily growth of 396% of the 65-Day Volume Moving Average
- 3/19/22 4:44 AM: The volume for Allot stock increased for one day, resulting in a record-breaking daily growth of 609% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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