Brokerages Set RingCentral, Inc. (NYSE:RNG) Price Target at $44.40

RingCentral, Inc. (NYSE:RNG) has been assigned an average rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.60.

Several research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and set a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $50.00 target price on shares of RingCentral in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Robert W. Baird set a $45.00 price objective on RingCentral in a report on Friday, May 8th. Finally, Oppenheimer reissued an “outperform” rating and issued a $50.00 target price on shares of RingCentral in a research note on Friday, May 8th.

Insider Activity

In other news, Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the sale, the director directly owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 4,044 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $65.07, for a total transaction of $263,143.08. Following the transaction, the chief financial officer owned 161,048 shares of the company’s stock, valued at approximately $10,479,393.36. The trade was a 2.45% 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 sold a total of 22,740 shares of company stock worth $1,175,723 in the last 90 days. 7.30% of the stock is owned by corporate insiders.

Institutional Trading of RingCentral

Institutional investors have recently bought and sold shares of the business. WealthCollab LLC increased its holdings in shares of RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after acquiring an additional 259 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after purchasing an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after purchasing an additional 424 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in RingCentral in the third quarter valued at approximately $30,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

RingCentral Price Performance

Shares of RNG stock opened at $66.18 on Monday. The business has a fifty day moving average of $49.85 and a 200 day moving average of $42.52. RingCentral has a 1 year low of $24.14 and a 1 year high of $68.45. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10.

RingCentral (NYSE:RNG) last posted its quarterly earnings results 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. The business had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. 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 research analysts expect that RingCentral will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.8%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s payout ratio is presently 40.00%.

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.