RingCentral, Inc. (NYSE:RNG) Given Average Rating of “Hold” by Brokerages

Shares of RingCentral, Inc. (NYSE:RNG) have been given an average rating of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $43.00.

A number of equities analysts have recently issued reports on RNG shares. Wells Fargo & Company raised their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Needham & Company LLC raised their target price on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. UBS Group set a $38.00 target price on shares of RingCentral in a research report on Friday, February 20th. Rosenblatt Securities raised their target price on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Robert W. Baird set a $45.00 price objective on shares of RingCentral in a research report on Friday, May 8th.

RingCentral Trading Down 3.8%

Shares of RNG opened at $39.30 on Wednesday. The firm has a market cap of $3.30 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 1.20 and a beta of 1.14. The company’s 50 day simple moving average is $41.00 and its 200-day simple moving average is $34.52. RingCentral has a 12-month low of $23.59 and a 12-month high of $49.85.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The business had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, equities research analysts forecast that RingCentral will post 2.79 EPS for the current fiscal year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is 31.91%.

Insider Activity at RingCentral

In related news, CAO Tarun Arora sold 3,615 shares of RingCentral stock in a transaction on Friday, May 29th. The shares were sold at an average price of $43.00, for a total value of $155,445.00. Following the transaction, the chief accounting officer directly owned 68,100 shares in the company, valued at $2,928,300. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the completion of the transaction, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,656 shares of company stock worth $1,780,310 in the last three months. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On RingCentral

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in RingCentral by 412.7% in the 1st quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock valued at $6,620,000 after buying an additional 143,254 shares during the last quarter. California State Teachers Retirement System grew its position in RingCentral by 14.3% in the 1st quarter. California State Teachers Retirement System now owns 82,885 shares of the software maker’s stock valued at $3,082,000 after buying an additional 10,341 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in RingCentral by 10.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 13,750 shares of the software maker’s stock valued at $511,000 after buying an additional 1,246 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of RingCentral by 150.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after purchasing an additional 1,187,437 shares in the last quarter. Finally, Compound Planning Inc. purchased a new stake in shares of RingCentral during the 1st quarter worth $237,000. 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.