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

RingCentral, Inc. (NYSE:RNG)’s share price shot up 6% during trading on Thursday . The company traded as high as $37.55 and last traded at $37.8180. 144,838 shares traded hands during trading, a decline of 94% from the average session volume of 2,563,412 shares. The stock had previously closed at $35.69.

Wall Street Analysts Forecast Growth

RNG has been the topic of several research analyst reports. Oppenheimer reaffirmed 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 report on Wednesday, March 4th. Weiss Ratings upgraded shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Robert W. Baird lifted their price target on shares of RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Finally, Morgan Stanley upped their price objective on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, RingCentral presently has an average rating of “Hold” and an average price target of $35.63.

RingCentral Trading Up 5.2%

The business has a 50-day moving average of $32.33 and a two-hundred day moving average of $30.14. The firm has a market cap of $3.25 billion, a P/E ratio of 78.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.14.

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

RingCentral Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.075 per share. The ex-dividend date was Monday, March 9th. This represents a $0.30 annualized dividend and a yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling at RingCentral

In other RingCentral news, COO Kira Makagon sold 46,960 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $35.49, for a total value of $1,666,610.40. Following the completion of the transaction, the chief operating officer directly owned 369,524 shares in the company, valued at approximately $13,114,406.76. This represents a 11.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Shmunis sold 95,831 shares of RingCentral stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total transaction of $3,410,625.29. Following the transaction, the chief executive officer owned 126,685 shares in the company, valued at approximately $4,508,719.15. This trade represents a 43.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 259,526 shares of company stock valued at $9,225,128. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its stake in shares of RingCentral by 76.7% in the fourth quarter. Hsbc Holdings PLC now owns 101,445 shares of the software maker’s stock valued at $2,934,000 after buying an additional 44,018 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after acquiring an additional 424 shares during the period. Corient Private Wealth LLC boosted its holdings in RingCentral by 194.4% in the fourth quarter. Corient Private Wealth LLC now owns 24,783 shares of the software maker’s stock valued at $716,000 after acquiring an additional 16,365 shares during the last quarter. DGS Capital Management LLC acquired a new stake in RingCentral during the 4th quarter valued at approximately $239,000. Finally, Kera Capital Partners Inc. increased its position in RingCentral by 75.5% during the 4th quarter. Kera Capital Partners Inc. now owns 16,633 shares of the software maker’s stock valued at $480,000 after purchasing an additional 7,153 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

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.