RingCentral, Inc. (NYSE:RNG) Given Consensus Recommendation of “Hold” by Analysts

RingCentral, Inc. (NYSE:RNG) has earned an average rating of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $43.00.

RNG has been the subject of a number of analyst reports. Needham & Company LLC increased their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Morgan Stanley increased their price target on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Piper Sandler raised 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. Finally, Rosenblatt Securities raised their price objective on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 8th.

RingCentral Stock Up 4.4%

Shares of RingCentral stock opened at $41.06 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 43.69, a PEG ratio of 1.20 and a beta of 1.13. The business has a 50-day moving average price of $39.38 and a 200-day moving average price of $32.69. RingCentral has a twelve month low of $23.59 and a twelve month high of $48.57.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities analysts expect that RingCentral will post 2.69 EPS for the current fiscal year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.7%. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

Insider Activity

In other news, CEO Vladimir Shmunis sold 95,831 shares of RingCentral stock in a transaction that occurred on 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 sale, the chief executive officer owned 126,685 shares of the company’s stock, valued at approximately $4,508,719.15. The trade was a 43.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Tarun Arora sold 953 shares of RingCentral stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $43.00, for a total transaction of $40,979.00. Following the sale, the chief accounting officer directly owned 74,539 shares of the company’s stock, valued at $3,205,177. This represents a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 259,854 shares of company stock worth $9,312,708 in the last ninety days. 7.30% of the stock is currently owned by company insiders.

Institutional Trading of RingCentral

Several institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in shares of RingCentral by 98.5% during the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock valued at $26,000 after buying an additional 447 shares during the last quarter. WealthCollab LLC lifted its position in RingCentral by 59.7% during the first quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after purchasing an additional 259 shares during the period. Meeder Asset Management Inc. lifted its position in RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the period. EverSource Wealth Advisors LLC lifted its position in RingCentral by 269.3% during 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 during the period. Finally, Rockefeller Capital Management L.P. lifted its position in RingCentral by 70.5% during 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 during the period. Institutional investors own 98.61% of the company’s stock.

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.