RingCentral (NYSE:RNG) Shares Break Above 50-Day Moving Average – Here’s What Happened

RingCentral, Inc. (NYSE:RNG)’s stock price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $66.28 and traded as high as $76.12. RingCentral shares last traded at $74.2980, with a volume of 1,489,156 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of RingCentral from $55.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Mizuho raised their price target on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Royal Bank Of Canada initiated coverage on shares of RingCentral in a research note on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price target on the stock. Oppenheimer boosted their price objective on shares of RingCentral from $50.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $50.00 price objective on shares of RingCentral in a research report on Friday, July 24th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.00.

RingCentral Trading Up 4.7%

The stock has a 50-day simple moving average of $67.02 and a 200-day simple moving average of $49.38. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 62.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 earnings per share. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, research analysts forecast that RingCentral, Inc. will post 2.89 EPS for the current year.

RingCentral Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.1250 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.50 annualized dividend and a yield of 0.6%. This is an increase from RingCentral’s previous quarterly dividend of $0.0750. RingCentral’s dividend payout ratio (DPR) is 40.00%.

Insider Activity at RingCentral

In other news, CEO Vladimir Shmunis sold 11,165 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $76.58, for a total value of $855,015.70. Following the completion of the sale, the chief executive officer owned 179,106 shares of the company’s stock, valued at approximately $13,715,937.48. The trade was a 5.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vaibhav Agarwal sold 7,046 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $72.10, for a total transaction of $508,016.60. Following the completion of the sale, the chief financial officer owned 146,700 shares in the company, valued at approximately $10,577,070. This trade represents a 4.58% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 83,361 shares of company stock worth $5,925,236 over the last quarter. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its holdings in 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 acquiring an additional 1,187,437 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of RingCentral by 3.7% during the 4th quarter. Invenomic Capital Management LP now owns 1,538,034 shares of the software maker’s stock worth $44,418,000 after purchasing an additional 55,587 shares during the period. Dimensional Fund Advisors LP raised its position in shares of RingCentral by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,308,949 shares of the software maker’s stock worth $48,676,000 after purchasing an additional 101,002 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of RingCentral by 28.6% in the 1st quarter. Bank of New York Mellon Corp now owns 585,789 shares of the software maker’s stock worth $21,785,000 after purchasing an additional 130,418 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of RingCentral in the 1st quarter worth approximately $13,719,000. Institutional investors own 98.61% of the company’s stock.

About RingCentral

RingCentral, Inc provides cloud-based business communications and collaboration solutions. Its platform helps organizations manage voice communications, team messaging, video meetings, contact center operations and customer interactions through internet-based services rather than traditional on-premises systems.

The company’s offerings include RingCentral RingEX, a unified communications platform combining business phone service, messaging and video; RingCentral Video for meetings and collaboration; and RingCentral Contact Center, which supports customer service operations across voice and digital channels.