RingCentral, Inc. (NYSE:RNG) Given Average Rating of “Hold” by Brokerages

RingCentral, Inc. (NYSE:RNG) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $35.6250.

Several brokerages have issued reports on RNG. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Piper Sandler boosted their price target on shares of RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Robert W. Baird upped their price target on shares of RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd. Needham & Company LLC increased their price objective on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Mizuho lifted their price objective on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, February 20th.

Insider Buying and Selling

In other news, CEO Vladimir Shmunis sold 95,831 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total value of $3,410,625.29. Following the completion of the transaction, the chief executive officer directly owned 126,685 shares of the company’s stock, valued at approximately $4,508,719.15. The trade was a 43.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Tarun Arora sold 8,840 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $40.69, for a total value of $359,699.60. Following the sale, the chief accounting officer owned 75,492 shares of the company’s stock, valued at $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 253,031 shares of company stock valued at $9,035,345. 7.30% of the stock is owned by insiders.

Hedge Funds Weigh In On RingCentral

A number of large investors have recently added to or reduced their stakes in RNG. Capital World Investors boosted its holdings in shares of RingCentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after buying an additional 2,031,861 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of RingCentral during the 3rd quarter worth approximately $53,365,000. LSV Asset Management lifted its position in RingCentral by 142.4% during the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after acquiring an additional 1,686,900 shares during the last quarter. AQR Capital Management LLC lifted its position in 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 acquiring an additional 523,966 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in RingCentral by 138.6% in the third quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after acquiring an additional 471,559 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

RingCentral Stock Up 5.1%

RNG opened at $37.53 on Friday. The stock’s fifty day moving average is $32.55 and its two-hundred day moving average is $30.19. The company has a market capitalization of $3.25 billion, a P/E ratio of 78.18, a PEG ratio of 1.41 and a beta of 1.14. RingCentral has a 52 week low of $20.58 and a 52 week high of $42.42.

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

RingCentral Announces Dividend

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

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.