RingCentral (RNG) Investors: Oppenheimer Reaffirms “Buy” Rating, Sees $92.0000/Share; Coresite Realty (COR) Shorts Down By 9.75%

June 19, 2018 - By Clifton Ray

RingCentral, Inc. (NYSE:RNG) Logo

Coresite Realty Corporation (NYSE:COR) had a decrease of 9.75% in short interest. COR’s SI was 2.73M shares in June as released by FINRA. Its down 9.75% from 3.03M shares previously. With 363,400 avg volume, 8 days are for Coresite Realty Corporation (NYSE:COR)’s short sellers to cover COR’s short positions. The SI to Coresite Realty Corporation’s float is 13.75%. The stock decreased 0.82% or $0.89 during the last trading session, reaching $107.93. About 102,050 shares traded. CoreSite Realty Corporation (NYSE:COR) has risen 0.94% since June 19, 2017 and is uptrending. It has underperformed by 11.63% the S&P500. Some Historical COR News: ; 20/04/2018 – CORESITE REALTY CORP – AMENDMENT AND EXPANSION INCREASES REVOLVING CREDIT FACILITY BY AN INCREMENTAL $100 MLN OF BORROWING CAPACITY, TO $450 MLN; 26/04/2018 – CoreSite Realty Sees FY EPS $2.15-EPS $2.27; 20/04/2018 – CoreSite Announces Amended and Expanded Credit Facility Increasing Total Borrowing Capacity to $1.05 Billion; 21/04/2018 – DJ CoreSite Realty Corporation, Inst Holders, 1Q 2018 (COR); 29/05/2018 – CoreSite Realty Dividend Growth May Be Sparking Buying Interest; 20/04/2018 – CoreSite Announces Amended and Expanded Credit Facility Increasing Total Borrowing Capacity to $1.05B; 26/04/2018 – CORESITE REALTY CORP COR.N FY2018 FFO SHR VIEW $5.01 — THOMSON REUTERS l/B/E/S; 24/05/2018 – CoreSite Realty Raises Dividend to $1.03; 30/03/2018 – Factors of Influence in 2018, Key Indicators and Opportunity within Hillenbrand, Synnex, CoreSite Realty, Orchids Paper Product; 26/04/2018 – CoreSite Realty Sees FY FFO $4.92/Shr-FFO $5.04/Shr

The firm have set target of $92.0000 on RingCentral (NYSE:RNG) shares. This is 19.37% from the close price. In analysts report sent to investors on Tuesday, 19 June, Oppenheimer reconfirmed their “Buy” rating on shares of RNG.

Among 21 analysts covering CoreSite Realty (NYSE:COR), 13 have Buy rating, 0 Sell and 8 Hold. Therefore 62% are positive. CoreSite Realty had 63 analyst reports since July 24, 2015 according to SRatingsIntel. J.P. Morgan initiated it with “Hold” rating and $118.0 target in Monday, September 25 report. The company was upgraded on Monday, October 3 by Stifel Nicolaus. The firm earned “Equal-Weight” rating on Friday, April 29 by Stephens. The stock has “Buy” rating by Jefferies on Friday, July 14. The rating was maintained by RBC Capital Markets on Monday, July 17 with “Buy”. The rating was maintained by Cowen & Co on Friday, July 21 with “Buy”. The stock of CoreSite Realty Corporation (NYSE:COR) has “Buy” rating given on Monday, June 12 by Jefferies. Guggenheim downgraded it to “Neutral” rating and $88 target in Wednesday, February 8 report. The stock of CoreSite Realty Corporation (NYSE:COR) has “Buy” rating given on Thursday, October 12 by SunTrust. The stock of CoreSite Realty Corporation (NYSE:COR) has “Buy” rating given on Friday, September 15 by Jefferies.

Investors sentiment decreased to 1.1 in 2018 Q1. Its down 0.16, from 1.26 in 2017Q4. It dropped, as 42 investors sold CoreSite Realty Corporation shares while 92 reduced holdings. 54 funds opened positions while 94 raised stakes. 32.58 million shares or 1.04% less from 32.92 million shares in 2017Q4 were reported. Fmr Limited Liability Com invested in 3.20M shares or 0.04% of the stock. Natixis Ltd Partnership owns 0.02% invested in CoreSite Realty Corporation (NYSE:COR) for 16,956 shares. Garrison Financial owns 0.19% invested in CoreSite Realty Corporation (NYSE:COR) for 3,385 shares. Dimensional Fund Advsr L P, Texas-based fund reported 519,837 shares. Boston Private Wealth Limited Liability accumulated 0.05% or 13,423 shares. D E Shaw holds 0% or 15,662 shares in its portfolio. Numerixs Inv Inc holds 1,400 shares. National Bank Of Montreal Can has invested 0% in CoreSite Realty Corporation (NYSE:COR). Sumitomo Mitsui Asset Mngmt Limited has invested 0.06% in CoreSite Realty Corporation (NYSE:COR). Janney Montgomery Scott Limited Liability Company reported 3,365 shares or 0% of all its holdings. Ontario – Canada-based Royal Comml Bank Of Canada has invested 0% in CoreSite Realty Corporation (NYSE:COR). Endurance Wealth Mgmt Inc, a Rhode Island-based fund reported 950 shares. Farmers Merchants Invs has invested 0% in CoreSite Realty Corporation (NYSE:COR). Shelton Capital Mngmt reported 2,417 shares. Utah Retirement has invested 0.01% in CoreSite Realty Corporation (NYSE:COR).

CoreSite Realty Corporation engages in the ownership, acquisition, construction, and management of data centers. The company has market cap of $5.21 billion. The data centers are specialized and secure buildings that house networking, storage, and communications technology infrastructure, including servers, storage devices, switches, routers, and fiber optic transmission equipment. It has a 55.35 P/E ratio. These buildings provide the power, cooling, and network connectivity to operate this mission-critical equipment.

More recent CoreSite Realty Corporation (NYSE:COR) news were published by: Seekingalpha.com which released: “AT&T Is A Buy – Cramer’s Lightning Round (6/6/18)” on June 07, 2018. Also Businesswire.com published the news titled: “CoreSite Realty Corporation Announces 5.1% Increase in Second-Quarter 2018 Common Stock Dividend” on May 24, 2018. Globenewswire.com‘s news article titled: “Analysis: Positioning to Benefit within Raven Industries, First Financial Bankshares, Smart, ADT, CoreSite Realty, and …” with publication date: May 23, 2018 was also an interesting one.

Investors sentiment increased to 1.16 in 2018 Q1. Its up 0.19, from 0.97 in 2017Q4. It is positive, as 11 investors sold RingCentral, Inc. shares while 79 reduced holdings. 58 funds opened positions while 46 raised stakes. 57.87 million shares or 3.07% more from 56.14 million shares in 2017Q4 were reported. Proshare Advsr Lc holds 0% of its portfolio in RingCentral, Inc. (NYSE:RNG) for 8,318 shares. Whale Rock Mgmt Ltd Company reported 1.43 million shares or 3.08% of all its holdings. Ameriprise, Minnesota-based fund reported 82,628 shares. Lord Abbett And Ltd Co reported 600,669 shares. Panagora Asset Management invested in 39,728 shares. Gradient Invests Limited Company has invested 0% in RingCentral, Inc. (NYSE:RNG). First Foundation Advisors reported 28,700 shares or 0.1% of all its holdings. 200 are held by Benjamin F Edwards &. Dimensional Fund Advsrs Lp accumulated 73,649 shares or 0% of the stock. Atlantic Group Ltd Limited Liability Company has invested 0% in RingCentral, Inc. (NYSE:RNG). Century reported 205,339 shares. Clearbridge Investments Ltd Company invested in 24 shares or 0% of the stock. Raymond James Finance Services Advsrs holds 28,750 shares. 44 are held by Hanseatic Mngmt. Spark Limited Liability Corporation owns 18,120 shares.

Since December 20, 2017, it had 0 buys, and 24 sales for $20.62 million activity. Dhruv Mitesh sold 3,000 shares worth $188,910. 15,300 shares were sold by Sipes David, worth $955,155. The insider Marlow John H sold $803,642. Another trade for 10,000 shares valued at $643,420 was made by Shah Praful on Tuesday, February 20. $501,707 worth of RingCentral, Inc. (NYSE:RNG) was sold by Michelle McKenna on Tuesday, May 29. Another trade for 24,055 shares valued at $1.59 million was sold by Shmunis Vladimir. THEIS ROBERT I had sold 2,000 shares worth $150,000 on Tuesday, May 29.

The stock decreased 4.08% or $3.28 during the last trading session, reaching $77.07. About 553,638 shares traded. RingCentral, Inc. (NYSE:RNG) has risen 114.00% since June 19, 2017 and is uptrending. It has outperformed by 101.43% the S&P500. Some Historical RNG News: 09/05/2018 – RINGCENTRAL INC RNG.N FY2018 SHR VIEW $0.58, REV VIEW $633.7 MLN — THOMSON REUTERS l/B/E/S; 29/03/2018 – Pacific Dental ServicesĀ® Delivers Superior Patient Experience With RingCentral’s Cloud Communications Solutions Across Over; 14/05/2018 – IHS Markit Ranks RingCentral #1 in the 2018 North American UCaaS Scorecard; 09/05/2018 – RingCentral Raises FY18 View To Adj EPS 61c-Adj EPS 65c; 09/05/2018 – RingCentral 1Q Adj EPS 16c; 09/05/2018 – RingCentral Sees 2Q Adj EPS 14c-Adj EPS 16c; 23/04/2018 – DJ RingCentral Inc Class A, Inst Holders, 1Q 2018 (RNG); 19/04/2018 – RingCentral Presenting at JPMorgan Conference May 16; 06/03/2018 – UCaaS Subscriber Numbers are Blossoming; Mitel and RingCentral Lead; 05/03/2018 Report: App Overload Is Creating Chaos at Work and Costing Businesses Billions

More notable recent RingCentral, Inc. (NYSE:RNG) news were published by: Streetinsider.com which released: “UPDATE: RingCentral (RNG) PT Raised to $92 at Oppenheimer” on June 19, 2018, also Streetinsider.com with their article: “William Blair Remains Bullish on Ringcentral, Inc. (RNG) Following Analyst Day” published on June 18, 2018, Benzinga.com published: “8 Biggest Price Target Changes For Tuesday” on June 19, 2018. More interesting news about RingCentral, Inc. (NYSE:RNG) were released by: Businesswire.com and their article: “Intelsat Empowers Global Workforce With RingCentral Cloud Communications Solutions” published on June 11, 2018 as well as Seekingalpha.com‘s news article titled: “Clean Energy Fuels Hits The Target – Is There More Upside To Come?” with publication date: June 11, 2018.

RingCentral, Inc. provides software-as-a-service solutions for business communications in the United States and internationally. The company has market cap of $6.07 billion. The company's products include RingCentral Office, a multi-tenant, multi-location, enterprise-grade communications solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing, including smartphones, tablets, PCs, and desk phones for businesses that require a communications solution; RingCentral Professional, an inbound call routing subscription with text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that provides Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine. It currently has negative earnings. The Company’s products also comprise RingCentral Contact Center, which provides a cloud based contact center solution that delivers multi-channel capabilities; and RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office.

Analysts await RingCentral, Inc. (NYSE:RNG) to report earnings on August, 1. They expect $-0.06 EPS, up 40.00% or $0.04 from last year’s $-0.1 per share.

Among 18 analysts covering RingCentral (NYSE:RNG), 14 have Buy rating, 0 Sell and 4 Hold. Therefore 78% are positive. RingCentral has $8400 highest and $22 lowest target. $56.13’s average target is -27.17% below currents $77.07 stock price. RingCentral had 65 analyst reports since July 21, 2015 according to SRatingsIntel. On Wednesday, December 16 the stock rating was maintained by Oppenheimer with “Outperform”. The stock of RingCentral, Inc. (NYSE:RNG) earned “Buy” rating by Craig Hallum on Thursday, May 10. The firm earned “Buy” rating on Thursday, October 19 by Jefferies. Morgan Stanley upgraded the shares of RNG in report on Tuesday, April 11 to “Overweight” rating. J.P. Morgan downgraded it to “Hold” rating and $52.0 target in Tuesday, December 12 report. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, December 2. Craig Hallum maintained RingCentral, Inc. (NYSE:RNG) on Thursday, November 9 with “Buy” rating. The firm has “Buy” rating given on Thursday, July 20 by Northland Capital. The rating was maintained by Oppenheimer with “Outperform” on Thursday, November 9. Bank of America maintained the shares of RNG in report on Tuesday, February 13 with “Buy” rating.

RingCentral, Inc. (NYSE:RNG) Institutional Positions Chart

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