Shares of RingCentral, Inc. (NYSE:RNG – Get Free Report) have been given an average rating of “Hold” by the fifteen research firms that are covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $35.6250.
RNG has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Needham & Company LLC increased their price objective on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Piper Sandler lifted their target price on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Morgan Stanley boosted their target price on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Finally, Mizuho upped their price target on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 20th.
Get Our Latest Research Report on RNG
RingCentral Price Performance
RingCentral (NYSE:RNG – Get Free Report) last announced its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The firm had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, equities research analysts anticipate that RingCentral will post 1.29 earnings per share for the current fiscal year.
RingCentral Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s payout ratio is 62.50%.
Insider Transactions at RingCentral
In related news, COO Kira Makagon sold 46,960 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $35.49, for a total value of $1,666,610.40. Following the completion of the transaction, the chief operating officer owned 369,524 shares in the company, valued at $13,114,406.76. This trade represents a 11.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Tarun Arora sold 8,840 shares of RingCentral stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total value of $359,699.60. Following the sale, the chief accounting officer directly owned 75,492 shares of the company’s stock, valued at approximately $3,071,769.48. This represents a 10.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 253,031 shares of company stock valued at $9,035,345 in the last quarter. Insiders own 7.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of RingCentral by 98.5% during the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after purchasing an additional 447 shares during the period. EverSource Wealth Advisors LLC increased its holdings in RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after buying an additional 738 shares during the period. Rockefeller Capital Management L.P. raised its position in RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after buying an additional 424 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in RingCentral during the 3rd quarter valued at approximately $30,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of RingCentral by 61.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after acquiring an additional 464 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
About RingCentral
RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.
Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.
See Also
Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with MarketBeat.com's FREE daily email newsletter.
