RingCentral, Inc. (NYSE:RNG) Receives $43.00 Consensus PT from Analysts

RingCentral, Inc. (NYSE:RNG) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $43.00.

RNG has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company boosted their price objective on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Needham & Company LLC upped their price target on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Piper Sandler upped their price target on RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd.

Insiders Place Their Bets

In other RingCentral news, CAO Tarun Arora sold 3,615 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the sale, the chief accounting officer owned 68,100 shares in the company, valued at $2,928,300. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, COO Kira Makagon sold 16,988 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the sale, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This trade represents a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,656 shares of company stock worth $1,780,310 in the last quarter. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On RingCentral

Several large investors have recently bought and sold shares of the stock. WealthCollab LLC increased its holdings in shares of RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after acquiring an additional 259 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after acquiring an additional 410 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after acquiring an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of RingCentral in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

RingCentral Trading Down 0.1%

RNG stock opened at $38.61 on Wednesday. The company has a market capitalization of $3.24 billion, a PE ratio of 41.07, a P/E/G ratio of 1.13 and a beta of 1.14. RingCentral has a 12-month low of $23.59 and a 12-month high of $49.85. The business’s fifty day moving average price is $41.07 and its 200 day moving average price is $34.77.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Research analysts predict that RingCentral will post 2.79 EPS for the current fiscal year.

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were issued a dividend of $0.075 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.8%. RingCentral’s dividend payout ratio is 31.91%.

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.