RingCentral, Inc. (NYSE:RNG) Receives $44.40 Average Price Target from Analysts

RingCentral, Inc. (NYSE:RNG) has received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $44.40.

Several research firms recently commented on RNG. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Morgan Stanley boosted their price objective on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of RingCentral in a research note on Friday, July 17th. Robert W. Baird set a $45.00 target price on shares of RingCentral in a research report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $50.00 price target on shares of RingCentral in a report on Friday, May 8th.

RingCentral Stock Up 2.7%

RNG opened at $57.14 on Thursday. The business has a fifty day moving average of $41.99 and a 200 day moving average of $37.97. RingCentral has a 52-week low of $23.59 and a 52-week high of $58.98. The stock has a market cap of $4.77 billion, a P/E ratio of 45.71, a PEG ratio of 0.97 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $650.53 million. During the same quarter last year, the firm posted $1.06 earnings per share. The business’s revenue 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 analysts anticipate that RingCentral will post 2.88 EPS for the current fiscal year.

RingCentral Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.125 per share. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.9%. RingCentral’s dividend payout ratio is presently 40.00%.

Insider Buying and Selling at RingCentral

In related news, COO Kira Makagon sold 16,988 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the sale, the chief operating officer directly owned 212,724 shares of the company’s stock, valued at $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the transaction, the director owned 29,372 shares in the company, valued at approximately $1,192,209.48. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 38,628 shares of company stock worth $1,656,201. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On RingCentral

Large investors have recently modified their holdings of the business. WealthCollab LLC grew its holdings in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after purchasing an additional 259 shares during the period. Versant Capital Management Inc raised its holdings in 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 buying an additional 259 shares during the period. Pictet Asset Management Holding SA lifted its position in RingCentral by 3.1% in the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after buying an additional 362 shares during the last quarter. Rothschild Investment LLC lifted 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 valued at $77,000 after buying an additional 366 shares during the last quarter. Finally, Sovereign Financial Group Inc. boosted its stake in RingCentral by 4.2% during the first quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after buying an additional 409 shares during the period. Institutional investors own 98.61% of the company’s stock.

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.