RingCentral Inc – Buy Now Software Stocks
RingCentral provides cloud-based communication and collaboration tools, including phone, video, messaging, and other solutions. RingCentral’s solutions cover mobile as well as desktop devices. The company has strategic partnerships with AT&T and Avaya. RingCentral has a long growth runway in the small and medium business segment, where greenfield demand for communication solutions is often met by cloud-based services that RingCentral offers. If you are looking for top software stocks for 2021, then RingCentral seems well-placed for sustainable long-term growth.
Background Information About RingCentral
RingCentral was founded in 1999 by Vlad Vendrow and Vlad Shmunis. The company was initially known as RingZero Systems, and its focus was small business communications through the Windows operating system. Vlad Vendrow served as the head of engineering, while Vlad Shmunis served as the CEO of that company. Later on, the company was sold to mobile giant Motorola. It was Motorola that shifted the focus of the company from Windows to mobile platforms. Cisco and Silicon Valley Bank were among the investors of RingCentral. RingCentral went public in 2013. RingCentral was in the news in 2019 for purchasing the naming rights to the Oakland Coliseum. It was the home of the popular NFL team Oakland Raiders during the first year of the naming rights agreement. RingCentral office, a cloud-based system, is RingCentral’s flagship product. The demand for cloud computing is growing at a strong pace, and RingCentral is among the leading companies in its niche. If you want to buy now software stocks, then RingCentral is one company that should be studied some more.
RingCentral’s stock trades on the New York stock exchange under the ticker symbol RNG. The stock last traded at $282.75 on 13th July 2021. It was up 2.89% for the preceding month but down 26% on a year-to-date basis. RingCentral’s stock currently does not pay a dividend and was growing at a strong pace till a pullback that began after the peak of February 2021.