Wall Street analysts expect RingCentral Inc (NYSE:RNG) to report $0.16 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for RingCentral’s earnings. The highest EPS estimate is $0.17 and the lowest is $0.16. RingCentral posted earnings per share of $0.06 in the same quarter last year, which indicates a positive year-over-year growth rate of 166.7%. The business is expected to report its next quarterly earnings report on Wednesday, November 14th.

On average, analysts expect that RingCentral will report full year earnings of $0.67 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.69. For the next financial year, analysts forecast that the business will report earnings of $0.83 per share, with EPS estimates ranging from $0.75 to $0.96. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover RingCentral.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Monday, August 6th. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. RingCentral had a negative return on equity of 5.93% and a negative net margin of 3.92%. The business had revenue of $160.83 million for the quarter, compared to analyst estimates of $155.71 million. During the same period last year, the firm posted $0.04 earnings per share. RingCentral’s revenue was up 34.1% compared to the same quarter last year.

A number of brokerages have weighed in on RNG. Stifel Nicolaus began coverage on RingCentral in a report on Wednesday, July 11th. They issued a “buy” rating and a $100.00 target price for the company. Bank of America lifted their target price on RingCentral from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Rosenblatt Securities started coverage on RingCentral in a report on Friday, September 7th. They set a “buy” rating and a $105.00 price objective for the company. Zacks Investment Research downgraded RingCentral from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Finally, Robert W. Baird boosted their price objective on RingCentral from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $88.36.

In other news, CEO Vladimir Shmunis sold 50,508 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $89.29, for a total transaction of $4,509,859.32. Following the completion of the sale, the chief executive officer now owns 349,282 shares in the company, valued at $31,187,389.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David Sipes sold 9,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $81.13, for a total value of $754,509.00. Following the sale, the chief operating officer now owns 299,695 shares of the company’s stock, valued at approximately $24,314,255.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,646 shares of company stock valued at $10,240,949. Corporate insiders own 11.99% of the company’s stock.

A number of institutional investors have recently made changes to their positions in RNG. SG Americas Securities LLC grew its holdings in RingCentral by 37.9% during the first quarter. SG Americas Securities LLC now owns 11,094 shares of the software maker’s stock worth $704,000 after buying an additional 3,050 shares in the last quarter. Mackay Shields LLC bought a new stake in RingCentral during the first quarter worth $1,410,000. Prudential Financial Inc. grew its holdings in RingCentral by 224.4% during the first quarter. Prudential Financial Inc. now owns 28,710 shares of the software maker’s stock worth $1,823,000 after buying an additional 19,860 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in RingCentral by 3.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,814 shares of the software maker’s stock worth $2,147,000 after buying an additional 1,008 shares in the last quarter. Finally, Swiss National Bank boosted its position in RingCentral by 3.9% in the first quarter. Swiss National Bank now owns 101,700 shares of the software maker’s stock worth $6,458,000 after purchasing an additional 3,800 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

RNG stock traded up $0.65 during mid-day trading on Friday, reaching $96.85. The company’s stock had a trading volume of 534,100 shares, compared to its average volume of 735,091. The company has a market cap of $7.48 billion, a P/E ratio of -274.71 and a beta of 0.80. The company has a debt-to-equity ratio of 1.24, a quick ratio of 4.32 and a current ratio of 4.32. RingCentral has a 12 month low of $38.45 and a 12 month high of $97.65.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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