RingCentral (NYSE:RNG) Shares Up 6% – Here’s What Happened

RingCentral, Inc. (NYSE:RNG) shares traded up 6% during trading on Friday . The company traded as high as $42.18 and last traded at $42.07. 1,692,384 shares changed hands during trading, a decline of 39% from the average session volume of 2,788,816 shares. The stock had previously closed at $39.67.

Wall Street Analysts Forecast Growth

RNG has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Piper Sandler lifted their target price on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Rosenblatt Securities lifted their price objective on shares of RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.04.

RingCentral Price Performance

The firm has a fifty day simple moving average of $29.68 and a 200-day simple moving average of $29.37. The firm has a market cap of $3.66 billion, a P/E ratio of 88.02, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

RingCentral (NYSE:RNG) last issued its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, topping 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 company had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. During the same period in the prior year, the firm earned $0.98 earnings per share. RingCentral’s revenue for the quarter 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. On average, equities analysts predict that RingCentral, Inc. will post 1.29 earnings per share for the current year.

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, March 9th.

Insider Buying and Selling at RingCentral

In related news, CAO Tarun Arora sold 3,723 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $36.14, for a total value of $134,549.22. Following the transaction, the chief accounting officer owned 84,332 shares of the company’s stock, valued at approximately $3,047,758.48. This trade represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Agarwal sold 18,680 shares of RingCentral stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $36.33, for a total value of $678,644.40. Following the transaction, the chief financial officer owned 139,493 shares of the company’s stock, valued at $5,067,780.69. This trade represents a 11.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 250,686 shares of company stock valued at $8,865,429 over the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of RingCentral by 1.1% during the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock valued at $335,082,000 after buying an additional 129,444 shares during the last quarter. Capital World Investors raised its position in RingCentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after buying an additional 2,031,861 shares during the last quarter. LSV Asset Management lifted its stake in RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC lifted its stake in RingCentral by 35.4% during the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after acquiring an additional 523,966 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in RingCentral during the 3rd quarter worth $53,365,000. 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.