RingCentral (NYSE:RNG) Raised to Hold at Zacks Research

RingCentral (NYSE:RNG) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

RNG has been the topic of several other research reports. Piper Sandler increased their target price on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Mizuho raised their price objective on shares of RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Robert W. Baird upped their target price on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. UBS Group set a $38.00 target price on shares of RingCentral in a research report on Friday, February 20th. Finally, Morgan Stanley lifted their price target on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, RingCentral presently has an average rating of “Hold” and a consensus target price of $34.04.

RingCentral Stock Up 1.4%

Shares of RNG stock opened at $39.71 on Wednesday. The firm has a 50 day moving average of $29.68 and a two-hundred day moving average of $29.37. The stock has a market capitalization of $3.44 billion, a PE ratio of 82.73, a P/E/G ratio of 1.54 and a beta of 1.14. RingCentral has a 52 week low of $20.58 and a 52 week high of $40.93.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $644.03 million for the quarter, compared to analysts’ expectations of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Analysts expect that RingCentral will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at RingCentral

In related news, CEO Vladimir Shmunis sold 95,831 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total transaction of $3,410,625.29. Following the completion of the transaction, the chief executive officer directly owned 126,685 shares of the company’s stock, valued at $4,508,719.15. This represents a 43.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kira Makagon sold 22,196 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were 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 of the company’s stock, valued at approximately $11,935,006.75. The trade was a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 250,686 shares of company stock valued at $8,865,429 over the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RingCentral

A number of large investors have recently modified their holdings of RNG. Capital World Investors lifted its holdings in shares of RingCentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after buying an additional 2,031,861 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of RingCentral during the 3rd quarter worth $53,365,000. LSV Asset Management boosted its position in shares of RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after purchasing an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of RingCentral by 35.4% during the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after purchasing an additional 523,966 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in RingCentral by 138.6% during the third quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock worth $23,113,000 after purchasing an additional 471,559 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.