Ringcentral, Inc. (NYSE:RNG) Receives $31.54 Average PT from Brokerages

Ringcentral, Inc. (NYSE:RNG) has been assigned an average recommendation of “Hold” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $31.5385.

RNG has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ringcentral in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Ringcentral in a research note on Tuesday, November 4th. Rosenblatt Securities reissued a “buy” rating and issued a $32.00 target price on shares of Ringcentral in a report on Tuesday, November 4th. UBS Group decreased their price target on Ringcentral from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Jefferies Financial Group dropped their price objective on Ringcentral from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th.

Insider Buying and Selling at Ringcentral

In other Ringcentral news, CEO Vladimir Shmunis sold 46,844 shares of Ringcentral stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $26.89, for a total transaction of $1,259,635.16. Following the transaction, the chief executive officer owned 317,139 shares of the company’s stock, valued at $8,527,867.71. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Agarwal sold 14,971 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $25.96, for a total value of $388,647.16. Following the completion of the sale, the chief financial officer owned 165,593 shares of the company’s stock, valued at approximately $4,298,794.28. This represents a 8.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 89,715 shares of company stock valued at $2,420,290 in the last 90 days. 6.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ringcentral

Several hedge funds have recently made changes to their positions in RNG. Centaurus Financial Inc. raised its stake in shares of Ringcentral by 33.2% during the third quarter. Centaurus Financial Inc. now owns 9,896 shares of the software maker’s stock worth $280,000 after purchasing an additional 2,464 shares during the last quarter. Danske Bank A S purchased a new position in Ringcentral during the 3rd quarter worth $686,000. Dark Forest Capital Management LP lifted its stake in shares of Ringcentral by 179.0% in the 3rd quarter. Dark Forest Capital Management LP now owns 69,222 shares of the software maker’s stock worth $1,962,000 after acquiring an additional 44,410 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Ringcentral in the third quarter valued at about $389,000. Finally, XTX Topco Ltd increased its stake in shares of Ringcentral by 250.9% during the third quarter. XTX Topco Ltd now owns 95,513 shares of the software maker’s stock worth $2,707,000 after acquiring an additional 68,295 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

Ringcentral Trading Up 1.1%

Ringcentral stock traded up $0.32 during mid-day trading on Friday, hitting $28.24. The company’s stock had a trading volume of 474,286 shares, compared to its average volume of 1,486,328. Ringcentral has a 1 year low of $20.58 and a 1 year high of $42.19. The firm has a market capitalization of $2.44 billion, a PE ratio of -201.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The stock’s fifty day moving average is $28.22 and its two-hundred day moving average is $28.24.

Ringcentral (NYSE:RNG) last issued its quarterly earnings data on Monday, November 3rd. The software maker reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm had revenue of $638.66 million for the quarter, compared to analyst estimates of $635.39 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. On average, equities analysts expect that Ringcentral will post 1.29 EPS for the current fiscal year.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.