RingCentral, Inc. (NYSE:RNG) Given Average Recommendation of “Hold” by Analysts

Shares of RingCentral, Inc. (NYSE:RNG) have received an average rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $49.60.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC upped 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. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Morgan Stanley boosted their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Oppenheimer reissued an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Finally, Wells Fargo & Company raised their price objective on RingCentral from $43.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday.

Insider Transactions at RingCentral

In other news, CFO Vaibhav Agarwal sold 4,044 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $65.07, for a total transaction of $263,143.08. Following the sale, the chief financial officer directly owned 161,048 shares of the company’s stock, valued at $10,479,393.36. This represents a 2.45% decrease in their position. The sale was disclosed in a legal filing 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, CAO Tarun Arora sold 675 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $67.45, for a total value of $45,528.75. Following the transaction, the chief accounting officer owned 79,709 shares of the company’s stock, valued at $5,376,372.05. This represents a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 19,125 shares of company stock worth $1,020,278. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On RingCentral

Institutional investors have recently bought and sold shares of the business. WealthCollab LLC increased its holdings in shares of RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after buying an additional 259 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of RingCentral by 2.3% in the 2nd quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock valued at $449,000 after acquiring an additional 259 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after acquiring an additional 362 shares during the last quarter. Rothschild Investment LLC grew its position in RingCentral by 15.8% in the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after acquiring an additional 366 shares in the last quarter. Finally, Sovereign Financial Group Inc. grew its position in RingCentral by 4.2% in the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after acquiring an additional 409 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

RingCentral Trading Up 1.3%

Shares of RNG opened at $69.43 on Monday. The business’s 50 day moving average is $51.20 and its 200 day moving average is $43.00. The company has a market capitalization of $5.80 billion, a PE ratio of 55.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. RingCentral has a 12-month low of $24.14 and a 12-month high of $70.43.

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

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.50 annualized dividend and a yield of 0.7%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio (DPR) is 40.00%.

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.