RingCentral, Inc. (NYSE:RNG) Receives $44.40 Consensus PT from Analysts

Shares of RingCentral, Inc. (NYSE:RNG) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $44.40.

Several research analysts have recently weighed in on RNG shares. Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 target price on shares of RingCentral in a research note on Saturday, May 9th. Needham & Company LLC reiterated a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Finally, Wells Fargo & Company increased their price target on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th.

Insider Activity at RingCentral

In other RingCentral news, 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 value of $722,669.52. Following the completion of the sale, the chief operating officer directly owned 212,724 shares of the company’s stock, valued at approximately $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 7,047 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99. Following the transaction, the chief financial officer owned 169,282 shares in the company, valued at $7,815,749.94. This represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 38,628 shares of company stock worth $1,656,201 over the last ninety days. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of RingCentral

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WealthCollab LLC boosted its holdings in RingCentral by 59.7% in the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of RingCentral by 2.3% during the second quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock valued at $449,000 after acquiring an additional 259 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of RingCentral by 3.1% during the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock worth $442,000 after purchasing an additional 362 shares during the period. Rothschild Investment LLC raised its position in shares of RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after purchasing an additional 366 shares during the period. Finally, Sovereign Financial Group Inc. lifted its holdings in shares of RingCentral by 4.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after purchasing an additional 409 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

RingCentral Stock Performance

NYSE:RNG opened at $55.77 on Thursday. RingCentral has a 52 week low of $23.59 and a 52 week high of $58.98. The firm’s fifty day moving average is $41.71 and its 200-day moving average is $37.71. The firm has a market cap of $4.66 billion, a P/E ratio of 44.62, a P/E/G ratio of 0.97 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. RingCentral’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. 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, sell-side analysts anticipate that RingCentral will post 2.88 earnings per share for the current year.

RingCentral Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 6th. This is a boost from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio is presently 24.00%.

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.