RingCentral is an American company focusing on cloud-based technologies for business communication and collaboration. It is a Silicon Valley startup that was founded during the tech boom period of 1999-2000. Prominent investors in RingCentral include Sequoia Capital, Khosla Ventures, and Cisco. The company was bootstrapped at the beginning and eventually went public in 2013. If you are looking to buy today’s software stocks, then the obvious names that come to mind are Microsoft, Adobe, or Zoom. However, there are niche players like RingCentral that can be long-term growth stories and wealth compounders. Cloud computing is a popular growth area within the technology industries these days. RingCentral’s cloud-based phone system is one example of modernizing the office environment. The technology is scalable and can be easily deployed and managed, bringing several benefits to the customers of RingCentral.
RingCentral’s Business Information
RingCentral has three main products/solutions on offer. The first is RingCentral Office, a unified communications-as-a-service offering. The second is RingCentral Cloud, a contact center-as-a-service offering. The third is RingCentral Glip, a relatively new video meeting platform. Customers of RingCentral come from a variety of industries. No one customer accounts for more than 10% of total revenues. RingCentral is among the software stocks of 2021 that one should watch.
Buy Today Software Stocks
RingCentral’s stock had gained a staggering 1178% over a 5-year period prior to July 2021. The stock has been on a high-growth trajectory with extremely positive price momentum over the longer term. However, over the short term, prices have only risen by about 7% over a 1-year period from July 2020 to July 2021. In fact, the closing price on July 13th, 2020, of $282 was not very far from the 52-week low of $229. The stock fell only 22% during the pandemic-driven market crash of March 2020. Since then, it had risen 153% till February 2021. From February 2021 to May 2021, the price fell by a massive 45%. It now seems to be bouncing back up.
