RingCentral, Inc. (NYSE:RNG) Receives Average Recommendation of “Hold” from Analysts

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

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Rosenblatt Securities raised their price objective on shares of RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research report on Friday, February 20th. Piper Sandler lifted their price objective on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Finally, Robert W. Baird raised their target price on shares of RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd.

Insider Buying and Selling

In other news, COO Kira Makagon sold 46,960 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $35.49, for a total transaction of $1,666,610.40. Following the sale, the chief operating officer directly owned 369,524 shares of the company’s stock, valued at $13,114,406.76. The trade was a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Tarun Arora sold 3,723 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 250,686 shares of company stock valued at $8,865,429. Insiders own 7.30% of the company’s stock.

Institutional Trading of RingCentral

A number of hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in shares of RingCentral by 98.5% in the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after acquiring an additional 447 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after acquiring an additional 738 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in RingCentral in the 3rd quarter worth approximately $30,000. Jones Financial Companies Lllp boosted its stake in RingCentral by 61.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock worth $37,000 after purchasing an additional 464 shares during the period. Finally, Covestor Ltd grew its position in RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock worth $46,000 after purchasing an additional 1,060 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

RingCentral Stock Down 2.2%

NYSE RNG traded down $0.93 on Monday, reaching $41.09. 232,905 shares of the stock traded hands, compared to its average volume of 2,759,215. The firm’s fifty day simple moving average is $29.93 and its 200 day simple moving average is $29.45. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 85.61, a P/E/G ratio of 1.66 and a beta of 1.14. RingCentral has a 12 month low of $20.58 and a 12 month high of $42.42.

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

RingCentral Announces Dividend

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

About RingCentral

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.