RingCentral (NYSE:RNG) Hits New 1-Year High – Still a Buy?

RingCentral, Inc. (NYSE:RNG) shares hit a new 52-week high on Thursday . The company traded as high as $40.93 and last traded at $39.74, with a volume of 606678 shares changing hands. The stock had previously closed at $39.17.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RNG shares. Oppenheimer reiterated an “outperform” rating on shares of RingCentral in a report on Friday, February 20th. UBS Group set a $38.00 price objective on RingCentral in a report on Friday, February 20th. Robert W. Baird lifted their target price on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Zacks Research lowered shares of RingCentral from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, RingCentral presently has an average rating of “Hold” and a consensus price target of $34.04.

RingCentral Stock Performance

The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 82.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.14. The stock’s 50-day simple moving average is $29.47 and its two-hundred day simple moving average is $29.29.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous 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. As a group, research analysts predict that RingCentral, Inc. will post 1.29 earnings per share for the current year.

RingCentral Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th.

Insider Transactions at RingCentral

In related news, CFO Vaibhav Agarwal sold 18,680 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $36.33, for a total value of $678,644.40. Following the completion of the transaction, the chief financial officer directly owned 139,493 shares of the company’s stock, valued at $5,067,780.69. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kira Makagon sold 46,960 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $35.49, for a total transaction of $1,666,610.40. Following the completion of the sale, the chief operating officer directly owned 369,524 shares in the company, valued at $13,114,406.76. This trade represents a 11.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 250,686 shares of company stock valued at $8,865,429. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On RingCentral

A number of hedge funds have recently made changes to their positions in RNG. Global Retirement Partners LLC boosted its stake in RingCentral by 98.5% in the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock valued at $26,000 after acquiring an additional 447 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after purchasing an additional 738 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of RingCentral during the third quarter worth $30,000. Jones Financial Companies Lllp increased its holdings in RingCentral by 61.6% in the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after purchasing an additional 464 shares during the last quarter. Finally, Covestor Ltd lifted its stake in RingCentral by 198.5% in the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after buying an additional 1,060 shares during the period. 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.