RingCentral, Inc. (NYSE:RNG) Given Average Rating of “Hold” by Brokerages

RingCentral, Inc. (NYSE:RNG) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.00.

Several research analysts have recently weighed in on RNG shares. Morgan Stanley upped their target price on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Robert W. Baird set a $45.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Finally, Needham & Company LLC increased their price objective on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th.

Insider Transactions at RingCentral

In other news, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the transaction, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the transaction, the director owned 29,372 shares in the company, valued at approximately $1,192,209.48. This trade represents a 4.13% 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 a total of 45,451 shares of company stock worth $1,933,565 in the last three months. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RNG. Capital World Investors boosted its stake in RingCentral by 20.9% during the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after purchasing an additional 2,031,861 shares during the last quarter. LSV Asset Management raised its position in shares of RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after buying an additional 1,686,900 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of RingCentral by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after buying an additional 523,966 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of RingCentral by 150.4% in the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after buying an additional 1,187,437 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in RingCentral during the third quarter worth about $53,365,000. 98.61% of the stock is owned by institutional investors and hedge funds.

RingCentral Stock Up 3.6%

NYSE:RNG opened at $40.90 on Friday. RingCentral has a 52 week low of $23.59 and a 52 week high of $49.85. The stock’s 50-day moving average price is $40.74 and its 200-day moving average price is $35.89. The stock has a market capitalization of $3.43 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.RingCentral’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Sell-side analysts expect that RingCentral will post 2.78 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, June 2nd. RingCentral’s dividend payout ratio is 31.91%.

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.