RingCentral Inc (RNG) stock is up 7.21% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With RNG Stock Today?
RingCentral Inc (RNG) stock has gained 0.58% while the S&P 500 is down -0.13% as of 2:12 PM on Monday, Apr 12. RNG is higher by $1.85 from the previous closing price of $317.42 on volume of 422,752 shares. Over the past year the S&P 500 is up 49.32% while RNG is higher by 51.33%. RNG lost -$0.94 per share in the over the last 12 months.
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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.
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