How Will the Market React to RingCentral Inc (RNG) Stock Getting a Bullish Rating

RingCentral Inc (RNG) stock is up 8.86% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

RingCentral Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on RNG!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With RNG Stock Today?

RingCentral Inc (RNG) stock has fallen -0.05% while the S&P 500 is up 0.29% as of 1:25 PM on Wednesday, Jan 12. RNG is lower by -$0.09 from the previous closing price of $189.63 on volume of 681,625 shares. Over the past year the S&P 500 is up 24.41% while RNG is lower by -50.63%. RNG lost -$2.84 per share in the over the last 12 months.

More About RingCentral Inc

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 its headquarters are in Belmont, California. Click Here to get the full Stock Report for RingCentral Inc stock.