RingCentral, Inc. (NYSE:RNG) Sees Significant Decline in Short Interest

RingCentral, Inc. (NYSE:RNG) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 8,318,001 shares, a drop of 24.4% from the February 12th total of 10,998,242 shares. Based on an average trading volume of 4,775,693 shares, the days-to-cover ratio is presently 1.7 days. Currently, 10.4% of the shares of the stock are sold short. Currently, 10.4% of the shares of the stock are sold short. Based on an average trading volume of 4,775,693 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

RNG has been the topic of several research analyst reports. Rosenblatt Securities boosted their price objective on RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research note on Friday, February 20th. Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Piper Sandler lifted their price target on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Needham & Company LLC boosted their price target on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley increased their price objective on RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.63.

Insider Activity at RingCentral

In related news, COO Kira Makagon sold 22,196 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $35.15, for a total value of $780,189.40. Following the completion of the sale, the chief operating officer owned 339,545 shares of the company’s stock, valued at approximately $11,935,006.75. The trade was a 6.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Agarwal sold 18,680 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $36.33, for a total transaction of $678,644.40. Following the transaction, the chief financial officer directly owned 139,493 shares in the company, valued at approximately $5,067,780.69. The trade was a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 259,526 shares of company stock worth $9,225,128 in the last quarter. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On RingCentral

Several institutional investors have recently bought and sold shares of RNG. Global Retirement Partners LLC increased its stake in RingCentral by 98.5% during the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after purchasing an additional 447 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after purchasing an additional 738 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of RingCentral in the third quarter valued at approximately $30,000. Jones Financial Companies Lllp grew its holdings in shares of 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 in the last quarter. Finally, Covestor Ltd increased its stake in RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock worth $46,000 after buying an additional 1,060 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

RingCentral Price Performance

NYSE RNG traded down $0.30 during trading hours on Friday, hitting $37.76. 2,010,219 shares of the company’s stock traded hands, compared to its average volume of 3,449,243. RingCentral has a 52-week low of $20.58 and a 52-week high of $42.42. The company has a market capitalization of $3.27 billion, a PE ratio of 78.66, a PEG ratio of 1.50 and a beta of 1.14. The firm’s 50-day moving average is $30.99 and its 200-day moving average is $29.77.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The firm had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. During the same period last year, the business earned $0.98 earnings per share. RingCentral’s revenue was up 4.8% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Equities research analysts predict that RingCentral will post 1.29 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

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

About RingCentral

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.