Zacks Research Upgrades RingCentral (NYSE:RNG) to Hold

RingCentral (NYSE:RNG) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

RNG has been the topic of a number of other research reports. Robert W. Baird increased their price objective on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Piper Sandler raised their price target on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of RingCentral in a report on Tuesday, November 4th. UBS Group set a $38.00 price objective on shares of RingCentral in a research report on Friday, February 20th. Finally, Mizuho lifted their target price on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, RingCentral has a consensus rating of “Hold” and an average target price of $34.04.

RingCentral Stock Up 4.2%

RNG traded up $1.65 during trading on Wednesday, reaching $41.32. 585,145 shares of the company were exchanged, compared to its average volume of 2,763,013. The company’s 50-day moving average is $29.68 and its two-hundred day moving average is $29.37. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 86.09, a P/E/G ratio of 1.54 and a beta of 1.14. RingCentral has a 12-month low of $20.58 and a 12-month high of $41.41.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating 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 analysts’ expectations of $643.52 million. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue 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. Equities analysts forecast that RingCentral will post 1.29 earnings per share for the current year.

Insider Buying and Selling at RingCentral

In other RingCentral news, CFO Vaibhav Agarwal sold 18,680 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $36.33, for a total value of $678,644.40. Following the completion of the sale, the chief financial officer directly owned 139,493 shares of the company’s stock, valued at $5,067,780.69. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Shmunis sold 95,831 shares of RingCentral stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total value of $3,410,625.29. Following the completion of the transaction, the chief executive officer owned 126,685 shares in the company, valued at approximately $4,508,719.15. This represents a 43.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 250,686 shares of company stock worth $8,865,429 in the last 90 days. 7.30% of the stock is owned by company insiders.

Institutional Trading of RingCentral

Several hedge funds and other institutional investors have recently bought and sold shares of RNG. Global Retirement Partners LLC grew its holdings in shares of RingCentral by 98.5% in 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 last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 738 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral in the third quarter valued at about $30,000. Jones Financial Companies Lllp increased its position in shares of RingCentral by 61.6% in the third 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 period. Finally, Covestor Ltd raised its stake in shares of RingCentral by 198.5% during the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,060 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

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.