Brokerages Set RingCentral, Inc. (NYSE:RNG) Target Price at $34.04

Shares of RingCentral, Inc. (NYSE:RNG) have been given a consensus rating of “Hold” by the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $34.0417.

RNG has been the subject of a number of recent analyst reports. Mizuho increased 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. Piper Sandler increased their price objective on shares of RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Morgan Stanley increased their price target on RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. Finally, Rosenblatt Securities upped their price objective on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a report on Friday, February 20th.

Insider Buying and Selling at RingCentral

In other news, COO Kira Makagon sold 22,196 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $35.15, for a total transaction of $780,189.40. Following the completion of the sale, the chief operating officer owned 339,545 shares in the company, valued at approximately $11,935,006.75. This represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tarun Arora sold 3,723 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $36.14, for a total value of $134,549.22. Following the sale, the chief accounting officer directly owned 84,332 shares of the company’s stock, valued at approximately $3,047,758.48. This represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 250,686 shares of company stock valued at $8,865,429 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On RingCentral

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its holdings in RingCentral by 98.5% during the 3rd quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after buying an additional 447 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of RingCentral by 269.3% in the fourth 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 in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral in the third quarter worth approximately $30,000. Jones Financial Companies Lllp raised its holdings in shares of RingCentral by 61.6% during 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 lifted its position in shares of RingCentral by 198.5% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Trading Up 6.2%

Shares of NYSE RNG opened at $42.11 on Monday. RingCentral has a 12-month low of $20.58 and a 12-month high of $42.42. The company has a market cap of $3.65 billion, a PE ratio of 87.73, a P/E/G ratio of 1.56 and a beta of 1.14. The stock has a 50 day simple moving average of $29.93 and a 200-day simple moving average of $29.45.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, February 19th. The software maker reported $1.18 EPS 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 last year, the firm earned $0.98 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Sell-side analysts forecast that RingCentral will post 1.29 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a dividend of $0.075 per share. The ex-dividend date is Monday, March 9th. This represents a $0.30 annualized dividend and a dividend yield of 0.7%.

RingCentral Company Profile

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.