Shares of RingCentral, Inc. (NYSE:RNG – Get Free Report) have been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $44.40.
Several research analysts have recently issued reports on RNG shares. Rosenblatt Securities restated a “buy” rating and issued a $50.00 target price on shares of RingCentral in a report on Friday, July 24th. Robert W. Baird set a $45.00 price target on shares of RingCentral in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Wells Fargo & Company boosted their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Piper Sandler upped their price objective on shares of RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th.
Get Our Latest Stock Analysis on RingCentral
RingCentral Trading Up 1.1%
RingCentral (NYSE:RNG – Get Free Report) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $657.01 million during the quarter, compared to analysts’ expectations of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.RingCentral’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, equities research analysts forecast that RingCentral will post 2.88 earnings per share for the current fiscal year.
RingCentral Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.125 dividend. This is an increase from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, August 6th. This represents a $0.50 annualized dividend and a yield of 0.8%. RingCentral’s dividend payout ratio (DPR) is 24.00%.
Insider Transactions at RingCentral
In other news, CAO Tarun Arora sold 3,615 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the transaction, the chief accounting officer directly owned 68,100 shares of the company’s stock, valued at approximately $2,928,300. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the sale, the director directly owned 29,372 shares of the company’s stock, valued at $1,192,209.48. The trade was a 4.13% 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. In the last quarter, insiders sold 38,628 shares of company stock worth $1,656,201. Corporate insiders own 7.30% of the company’s stock.
Institutional Trading of RingCentral
Institutional investors and hedge funds have recently bought and sold shares of the stock. LSV Asset Management raised its position in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of RingCentral by 35.4% during the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after purchasing an additional 523,966 shares in the last quarter. Quantinno Capital Management LP grew its stake in RingCentral by 150.4% in the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after purchasing an additional 1,187,437 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of RingCentral in the 3rd quarter worth about $53,365,000. Finally, Marshall Wace LLP lifted its position in RingCentral by 4.4% during the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after acquiring an additional 75,709 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
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