Wall Street analysts predict that RingCentral Inc (NYSE:RNG) will post $238.61 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for RingCentral’s earnings, with estimates ranging from $237.00 million to $239.60 million. RingCentral reported sales of $188.62 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.5%. The business is scheduled to report its next earnings results on Monday, February 10th.

On average, analysts expect that RingCentral will report full year sales of $887.79 million for the current financial year, with estimates ranging from $877.40 million to $890.00 million. For the next fiscal year, analysts expect that the business will post sales of $1.09 billion, with estimates ranging from $1.08 billion to $1.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover RingCentral.

RingCentral (NYSE:RNG) last announced its earnings results on Monday, November 4th. The software maker reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. RingCentral had a negative net margin of 4.06% and a negative return on equity of 1.61%. The firm had revenue of $233.35 million for the quarter, compared to analyst estimates of $221.37 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue was up 34.2% compared to the same quarter last year.

RNG has been the topic of a number of recent research reports. Raymond James raised their price objective on RingCentral from $175.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 5th. SunTrust Banks upped their target price on RingCentral from $163.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $160.00 target price on shares of RingCentral in a report on Friday, October 4th. Bank of America raised their price target on RingCentral from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, ValuEngine downgraded RingCentral from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. RingCentral currently has an average rating of “Buy” and a consensus target price of $158.41.

In other RingCentral news, CEO Vladimir Shmunis sold 37,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $175.10, for a total value of $6,566,250.00. Following the sale, the chief executive officer now owns 265,833 shares in the company, valued at $46,547,358.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John H. Marlow sold 11,756 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $171.32, for a total transaction of $2,014,037.92. Following the sale, the chief accounting officer now directly owns 158,170 shares in the company, valued at approximately $27,097,684.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,712 shares of company stock worth $50,180,114. Company insiders own 11.03% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Glen Harbor Capital Management LLC boosted its stake in shares of RingCentral by 140.0% during the second quarter. Glen Harbor Capital Management LLC now owns 384 shares of the software maker’s stock valued at $44,000 after purchasing an additional 224 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in RingCentral by 285.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 405 shares of the software maker’s stock valued at $51,000 after buying an additional 300 shares during the last quarter. Usca Ria LLC bought a new position in RingCentral in the 3rd quarter valued at approximately $63,000. Tyers Asset Management LLC boosted its position in RingCentral by 140.0% during the 2nd quarter. Tyers Asset Management LLC now owns 528 shares of the software maker’s stock worth $61,000 after buying an additional 308 shares during the period. Finally, Smithfield Trust Co. acquired a new stake in RingCentral during the 3rd quarter worth approximately $68,000. Institutional investors own 83.98% of the company’s stock.

Shares of RNG stock opened at $165.48 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 1.12. The stock has a market cap of $14.48 billion, a P/E ratio of -4,137.00 and a beta of 0.90. The stock has a 50 day simple moving average of $166.47 and a 200 day simple moving average of $138.84. RingCentral has a 1 year low of $69.84 and a 1 year high of $177.99.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

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