RingCentral (NYSE:RNG) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of RingCentral (NYSE:RNG) from a strong sell rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other brokerages have also commented on RNG. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of RingCentral in a report on Tuesday, November 4th. Mizuho increased their price target on RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Robert W. Baird lifted their price target on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a research report on Friday, February 20th. Finally, Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.04.

RingCentral Price Performance

RNG traded up $1.39 during midday trading on Wednesday, hitting $41.06. 370,575 shares of the company’s stock traded hands, compared to its average volume of 2,757,758. The company has a market cap of $3.55 billion, a PE ratio of 85.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The stock’s fifty day simple moving average is $29.68 and its 200-day simple moving average is $29.37. RingCentral has a one year low of $20.58 and a one year high of $41.11.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. RingCentral’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm 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. On average, research analysts expect that RingCentral will post 1.29 EPS for the current year.

RingCentral Dividend Announcement

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

Insider Transactions at RingCentral

In related news, COO Kira Makagon sold 46,960 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $35.49, for a total value of $1,666,610.40. Following the completion of the transaction, the chief operating officer directly owned 369,524 shares in the company, valued at approximately $13,114,406.76. This represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vladimir Shmunis sold 95,831 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total value 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 approximately $4,508,719.15. This trade represents a 43.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 250,686 shares of company stock valued at $8,865,429. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RingCentral

A number of hedge funds have recently made changes to their positions in RNG. Fort Washington Investment Advisors Inc. OH lifted its position in shares of RingCentral by 22.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after buying an additional 228,202 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of RingCentral by 544.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after acquiring an additional 77,663 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of RingCentral by 79.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock valued at $9,610,000 after purchasing an additional 150,537 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of RingCentral by 29.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock worth $16,999,000 after purchasing an additional 134,992 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in RingCentral during the 2nd quarter valued at about $430,000. Institutional investors and hedge funds 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.