RingCentral (NYSE:RNG) Sets New 12-Month High After Analyst Upgrade

RingCentral, Inc. (NYSE:RNG) reached a new 52-week high during trading on Saturday after Mizuho raised their price target on the stock from $38.00 to $40.00. Mizuho currently has a neutral rating on the stock. RingCentral traded as high as $50.14 and last traded at $48.3270, with a volume of 8917197 shares. The stock had previously closed at $38.62.

RNG has been the topic of several other research reports. Piper Sandler raised their price target on shares of RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research report on Friday, May 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price objective on shares of RingCentral in a research note on Saturday, May 9th. Needham & Company LLC reissued a “buy” rating on shares of RingCentral in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, RingCentral currently has a consensus rating of “Hold” and an average target price of $44.40.

Insiders Place Their Bets

In related news, Director Robert I. Theis sold 2,530 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total transaction of $101,908.40. Following the completion of the transaction, the director owned 30,834 shares in the company, valued at $1,241,993.52. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the transaction, the director owned 29,372 shares of the company’s stock, valued at $1,192,209.48. This trade represents a 4.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 44,498 shares of company stock worth $1,892,586. 7.30% of the stock is currently owned by insiders.

Key RingCentral News

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: RingCentral reported Q2 EPS of $1.22 versus $1.16 expected and revenue of $657.0 million versus $650.5 million expected, showing a solid beat on both the top and bottom lines. RingCentral Q2 Earnings Report
• Positive Sentiment: The company raised Q3 2026 guidance to EPS of $1.25-$1.30 and revenue of $664 million-$670 million, both above consensus, and lifted FY 2026 EPS guidance to $4.96-$5.10. RingCentral Financial Results
• Positive Sentiment: Management and recent commentary point to stronger subscription growth, higher margins, and expanding AI adoption, which are supporting the improved growth outlook. Zacks Q2 Earnings Article
• Positive Sentiment: RingCentral also announced a 66.7% increase in its quarterly dividend to $0.125 per share, signaling confidence in cash generation and capital returns. Insider Monkey Article
• Neutral Sentiment: Mizuho raised its price target to $40 but kept a neutral rating, which is below the current trading level and suggests some caution on valuation. Mizuho Price Target Update
• Neutral Sentiment: Rosenblatt reaffirmed a buy rating with a $50 target, broadly reinforcing the positive post-earnings sentiment. Rosenblatt Rating Update

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. LSV Asset Management lifted its holdings in shares of RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. AQR Capital Management LLC raised its holdings in RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after acquiring an additional 523,966 shares during the last quarter. Quantinno Capital Management LP lifted its position in RingCentral by 150.4% in the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after acquiring an additional 1,187,437 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in RingCentral during the 3rd quarter valued at $53,365,000. Finally, Marshall Wace LLP boosted its stake in RingCentral by 4.4% during the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after purchasing an additional 75,709 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

RingCentral Price Performance

The stock has a market cap of $4.05 billion, a PE ratio of 38.66, a PEG ratio of 1.14 and a beta of 1.14. The company has a 50 day moving average price of $40.41 and a two-hundred day moving average price of $36.78.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. RingCentral had a negative return on equity of 34.98% and a net margin of 4.27%.The company had revenue of $657.01 million for the quarter, compared to analysts’ expectations of $650.53 million. During the same period last year, the firm posted $1.06 earnings per share. RingCentral’s revenue was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, equities analysts predict that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This is an increase from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. RingCentral’s dividend payout ratio is presently 31.91%.

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.