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

RingCentral, Inc. (NYSE:RNG) has received a consensus rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $49.60.

A number of research analysts have recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price target on shares of RingCentral in a research report on Saturday, May 9th. Wells Fargo & Company increased their target price on RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Needham & Company LLC lifted their price target on shares of RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a report on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th.

Insider Buying and Selling

In other RingCentral news, CFO Vaibhav Agarwal sold 7,047 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total transaction of $325,359.99. Following the sale, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at $7,815,749.94. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the sale, the director directly owned 29,372 shares of the company’s stock, valued at $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 three months, insiders have sold 19,125 shares of company stock worth $1,020,278. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On RingCentral

Institutional investors have recently made changes to their positions in the company. WealthCollab LLC lifted its stake 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 last quarter. Versant Capital Management Inc lifted its position in RingCentral by 2.3% during the second 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 grew its holdings 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 worth $442,000 after purchasing an additional 362 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of RingCentral by 15.8% during 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 during the last quarter. Finally, Sovereign Financial Group Inc. grew its position in RingCentral by 4.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

RingCentral Stock Up 0.1%

Shares of NYSE RNG opened at $69.43 on Monday. The firm has a market cap of $5.80 billion, a P/E ratio of 55.54, a PEG ratio of 1.20 and a beta of 1.10. RingCentral has a twelve month low of $24.14 and a twelve month high of $70.43. The company has a 50 day moving average of $51.20 and a 200 day moving average of $43.11.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. During the same period in the previous year, the business earned $1.06 EPS. The company’s quarterly 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. As a group, equities analysts expect that RingCentral will post 2.89 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s payout ratio is 40.00%.

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.