RingCentral, Inc. (NYSE:RNG) Receives $43.00 Consensus PT from Analysts

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

A number of research firms have recently commented on RNG. Piper Sandler raised their price target on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. UBS Group set a $38.00 price target on RingCentral in a research report on Friday, February 20th. Rosenblatt Securities raised their price target on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Morgan Stanley raised their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd.

Insiders Place Their Bets

In related news, COO Kira Makagon sold 5,870 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $40.27, for a total transaction of $236,384.90. Following the completion of the transaction, the chief operating officer directly owned 236,715 shares in the company, valued at approximately $9,532,513.05. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 95,831 shares of the stock in a transaction dated 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 transaction, 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 262,074 shares of company stock worth $9,402,885. 7.30% of the stock is owned by company insiders.

Institutional Trading of RingCentral

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in shares of RingCentral by 412.7% in the first quarter. Janus Henderson Group PLC now owns 177,966 shares of the software maker’s stock valued at $6,620,000 after buying an additional 143,254 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of RingCentral by 14.3% in the first quarter. California State Teachers Retirement System now owns 82,885 shares of the software maker’s stock valued at $3,082,000 after buying an additional 10,341 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of RingCentral by 10.0% in the first quarter. The Manufacturers Life Insurance Company now owns 13,750 shares of the software maker’s stock valued at $511,000 after buying an additional 1,246 shares during the last quarter. Quantinno Capital Management LP lifted its position 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 valued at $73,524,000 after buying an additional 1,187,437 shares during the last quarter. Finally, Compound Planning Inc. acquired a new stake in shares of RingCentral in the first quarter valued at approximately $237,000. 98.61% of the stock is owned by institutional investors and hedge funds.

RingCentral Trading Up 1.9%

NYSE:RNG opened at $43.39 on Friday. RingCentral has a 1-year low of $23.59 and a 1-year high of $48.57. The business’s 50-day moving average price is $39.44 and its two-hundred day moving average price is $32.97. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 46.16, a PEG ratio of 1.30 and a beta of 1.13.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. 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 predict that RingCentral will post 2.69 earnings per share for the current year.

RingCentral Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral’s dividend payout ratio (DPR) is currently 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.