RingCentral, Inc. (NYSE:RNG) Stock Has Consensus Price Target of $56.00

RingCentral, Inc. (NYSE:RNG) has been assigned an average recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $56.00.

RNG has been the subject of several recent research reports. Oppenheimer upped their price objective on RingCentral from $50.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 1st. Needham & Company LLC increased their price objective on RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 28th. Royal Bank Of Canada assumed coverage on RingCentral in a research report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Mizuho lifted their target price on RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $50.00 target price on shares of RingCentral in a report on Friday, July 24th.

RingCentral Stock Performance

Shares of NYSE:RNG opened at $79.82 on Tuesday. RingCentral has a 52-week low of $24.14 and a 52-week high of $81.90. The company has a market capitalization of $6.67 billion, a PE ratio of 63.85, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The company has a fifty day moving average of $72.09 and a 200-day moving average of $52.55.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%. The company had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. During the same quarter last year, the business posted $1.06 EPS. RingCentral’s revenue for the quarter was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, equities analysts forecast that RingCentral will post 2.89 EPS for the current fiscal year.

RingCentral Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.1250 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from RingCentral’s previous quarterly dividend of $0.0750. This represents a $0.50 annualized dividend and a dividend yield of 0.6%. RingCentral’s payout ratio is currently 40.00%.

Insider Activity at RingCentral

In other news, COO Kira Makagon sold 36,185 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $70.11, for a total transaction of $2,536,930.35. Following the completion of the transaction, the chief operating officer directly owned 245,385 shares in the company, valued at $17,203,942.35. This trade represents a 12.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Shenkan sold 1,264 shares of RingCentral stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $78.89, for a total value of $99,716.96. Following the completion of the transaction, the director directly owned 28,108 shares in the company, valued at approximately $2,217,440.12. This represents a 4.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,625 shares of company stock valued at $6,024,953 over the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RNG. Fortitude Family Office LLC increased its position in shares of RingCentral by 128.1% during the third quarter. Fortitude Family Office LLC now owns 349 shares of the software maker’s stock worth $26,000 after buying an additional 196 shares during the period. WealthCollab LLC raised its stake in RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after buying an additional 259 shares during the last quarter. Versant Capital Management Inc raised its stake in RingCentral by 2.3% during the second quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock worth $449,000 after buying an additional 259 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in RingCentral by 119.3% during the third quarter. Elevation Wealth Partners LLC now owns 546 shares of the software maker’s stock worth $41,000 after buying an additional 297 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in RingCentral by 3.1% in the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after buying an additional 362 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

About RingCentral

RingCentral, Inc provides cloud-based business communications and collaboration solutions. Its platform helps organizations manage voice communications, team messaging, video meetings, contact center operations and customer interactions through internet-based services rather than traditional on-premises systems.

The company’s offerings include RingCentral RingEX, a unified communications platform combining business phone service, messaging and video; RingCentral Video for meetings and collaboration; and RingCentral Contact Center, which supports customer service operations across voice and digital channels.