RingCentral (NYSE:RNG) Price Target Raised to $91.00

RingCentral (NYSE:RNG) had its target price hoisted by Morgan Stanley from $41.00 to $91.00 in a research report report published on Friday morning, MarketBeat reports. Morgan Stanley currently has an equal weight rating on the software maker’s stock.

A number of other equities analysts have also recently issued reports on RNG. Mizuho upped their price target on shares of RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Needham & Company LLC raised their price objective on shares of RingCentral from $55.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Oppenheimer lifted their target price on shares of RingCentral from $50.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Wells Fargo & Company upped their target price on shares of RingCentral from $43.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada assumed coverage on shares of RingCentral in a report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, RingCentral currently has an average rating of “Hold” and a consensus target price of $89.69.

RingCentral Stock Up 0.1%

Shares of RNG opened at $83.46 on Friday. The stock has a market cap of $6.97 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.44 and a beta of 1.10. The business’s 50 day moving average price is $74.01 and its 200-day moving average price is $54.35. RingCentral has a 52 week low of $24.14 and a 52 week high of $98.14.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $676.04 million during the quarter, compared to analyst estimates of $667.30 million. RingCentral had a negative return on equity of 50.15% and a net margin of 25.27%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. On average, equities analysts anticipate that RingCentral will post 2.89 EPS for the current year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a $0.1250 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.6%. RingCentral’s payout ratio is 6.61%.

Insider Buying and Selling at RingCentral

In other news, CAO Tarun Arora sold 4,172 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $70.36, for a total transaction of $293,541.92. Following the completion of the transaction, the chief accounting officer directly owned 65,692 shares of the company’s stock, valued at $4,622,089.12. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 15,556 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $71.78, for a total transaction of $1,116,609.68. Following the transaction, the chief executive officer owned 190,271 shares in the company, valued at approximately $13,657,652.38. This trade represents a 7.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 84,625 shares of company stock worth $6,024,953. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On RingCentral

A number of hedge funds have recently added to or reduced their stakes in the stock. Access Investment Management LLC purchased a new position in shares of RingCentral in the 3rd quarter worth $7,793,000. Signaturefd LLC boosted its position in RingCentral by 77.2% in the third quarter. Signaturefd LLC now owns 1,552 shares of the software maker’s stock worth $116,000 after purchasing an additional 676 shares during the last quarter. Bond & Devick Financial Network Inc. purchased a new position in RingCentral in the third quarter worth about $224,000. Citizens Financial Group Inc. RI bought a new stake in shares of RingCentral during the 3rd quarter valued at about $311,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of RingCentral in the 3rd quarter worth approximately $246,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

RingCentral News Roundup

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: Raised full-year guidance: RingCentral now expects fiscal 2026 adjusted EPS of $5.07–$5.12, well above the $4.61 analyst consensus, and revenue of approximately $2.7 billion versus expectations of $2.6 billion. Fourth-quarter EPS guidance of $1.32–$1.37 also exceeds the $1.24 consensus, while revenue guidance is slightly above estimates. RingCentral guidance
• Positive Sentiment: Beat quarterly expectations: Third-quarter EPS came in at $1.33 versus the $1.28 consensus, while revenue of $676.04 million exceeded estimates of $667.30 million and increased 5.8% year over year. RingCentral Q3 earnings
• Positive Sentiment: AI growth is becoming material: Paid artificial-intelligence product annual recurring revenue surpassed $400 million, with reports indicating that AI monetization roughly doubled. This supports expectations for stronger growth and margin expansion. RingCentral long-term investor takeaways
• Positive Sentiment: Balance sheet improved: RingCentral reduced gross debt below $1 billion ahead of schedule, while earnings and cash flow improved. The company also declared a quarterly dividend of $0.125 per share, equal to a $0.50 annualized payout. RingCentral outlook and cash flow
• Neutral Sentiment: Analyst targets moved higher: Needham raised its target to $110 with a Buy rating, FBN Securities lifted its target to $105, and Morgan Stanley increased its target to $91 while retaining Equal Weight. Wells Fargo also raised its target to $85 but maintained Equal Weight, suggesting some analysts view the near-term upside as more limited.
• Neutral Sentiment: At approximately $83.46, RingCentral remains below its $98.14 52-week high but trades well above its 50-day and 200-day moving averages, indicating strong momentum alongside a higher valuation.

RingCentral Company Profile

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company’s offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.