RingCentral, Inc. (NYSE:RNG) Receives $35.63 Average Target Price from Brokerages

Shares of RingCentral, Inc. (NYSE:RNG) have been assigned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $35.6250.

RNG has been the topic of a number of analyst reports. Morgan Stanley upped their price target on RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. Mizuho upped their target price on RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Oppenheimer restated an “outperform” rating on shares of RingCentral in a research report on Friday, February 20th. Needham & Company LLC upped their target price on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Rosenblatt Securities upped their target price on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research report on Friday, February 20th.

RingCentral Trading Down 6.9%

NYSE RNG opened at $38.62 on Tuesday. The business’s 50-day moving average price is $37.10 and its two-hundred day moving average price is $31.24. RingCentral has a 12 month low of $23.59 and a 12 month high of $43.83. The firm has a market capitalization of $3.34 billion, a PE ratio of 80.46, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The firm had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue was up 4.8% on a year-over-year basis. 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, analysts forecast that RingCentral will post 2.68 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.075 per share. The ex-dividend date was Monday, March 9th. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. RingCentral’s dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In related news, CAO Tarun Arora sold 953 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $43.00, for a total transaction of $40,979.00. Following the sale, the chief accounting officer owned 74,539 shares in the company, valued at $3,205,177. This represents a 1.26% decrease in their position. The sale 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. Also, CEO Vladimir Shmunis sold 95,831 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total value of $3,410,625.29. Following the sale, the chief executive officer owned 126,685 shares in the company, valued at approximately $4,508,719.15. The trade was a 43.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 253,984 shares of company stock worth $9,076,324 in the last quarter. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RingCentral

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its holdings in RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after acquiring an additional 2,031,861 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in RingCentral in the third quarter worth approximately $53,365,000. LSV Asset Management boosted its holdings in RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC boosted its holdings in RingCentral by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after acquiring an additional 523,966 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in RingCentral by 138.6% in the third quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock worth $23,113,000 after acquiring an additional 471,559 shares in the last quarter. Institutional investors 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.