Wall Street brokerages expect RingCentral Inc (NYSE:RNG) to announce earnings per share (EPS) of $0.16 for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for RingCentral’s earnings, with estimates ranging from $0.14 to $0.17. RingCentral reported earnings of $0.19 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 15.8%. The business is expected to report its next earnings results after the market closes on Monday, August 5th.

According to Zacks, analysts expect that RingCentral will report full year earnings of $0.73 per share for the current fiscal year, with EPS estimates ranging from $0.71 to $0.75. For the next financial year, analysts forecast that the firm will post earnings of $0.93 per share, with EPS estimates ranging from $0.81 to $0.99. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover RingCentral.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Monday, May 6th. The software maker reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.16). RingCentral had a negative net margin of 4.12% and a negative return on equity of 0.73%. The business had revenue of $201.50 million for the quarter, compared to analysts’ expectations of $193.54 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The business’s quarterly revenue was up 34.1% compared to the same quarter last year.

A number of research analysts have recently weighed in on RNG shares. Northland Securities reiterated a “buy” rating and set a $12.00 price target on shares of Medallion Financial in a report on Tuesday, May 7th. Stephens restated a “buy” rating and issued a $74.00 target price on shares of Everbridge in a research note on Monday, May 6th. Rosenblatt Securities restated a “buy” rating and issued a $105.00 target price on shares of RingCentral in a research note on Monday, March 25th. Craig Hallum boosted their target price on RingCentral from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Deutsche Bank set a €230.00 ($267.44) target price on adidas and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $123.17.

Shares of RNG stock traded down $0.03 on Monday, reaching $120.98. 376,500 shares of the company’s stock traded hands, compared to its average volume of 782,143. RingCentral has a 12-month low of $64.41 and a 12-month high of $127.00. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $9.96 billion, a P/E ratio of -3,024.50 and a beta of 0.79. The company has a 50 day moving average of $118.72.

In other news, COO David Sipes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $124.00, for a total value of $186,000.00. Following the sale, the chief operating officer now directly owns 258,911 shares in the company, valued at approximately $32,104,964. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Praful Shah sold 5,456 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $121.09, for a total value of $660,667.04. Following the completion of the sale, the insider now owns 269,657 shares in the company, valued at $32,652,766.13. The disclosure for this sale can be found here. Insiders have sold a total of 331,541 shares of company stock valued at $39,949,648 in the last three months. 11.03% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in RingCentral by 31.4% in the 1st quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock valued at $39,000 after buying an additional 87 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of RingCentral by 4.0% in the 1st quarter. Sheets Smith Wealth Management now owns 4,305 shares of the software maker’s stock valued at $464,000 after purchasing an additional 166 shares during the period. Baldwin Brothers Inc. MA lifted its stake in shares of RingCentral by 90.0% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 380 shares of the software maker’s stock valued at $44,000 after purchasing an additional 180 shares during the period. Neuburgh Advisers LLC acquired a new position in shares of RingCentral in the 4th quarter valued at $25,000. Finally, CX Institutional acquired a new position in shares of RingCentral in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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