RingCentral (NYSE:RNG) Upgraded at Zacks Research

Zacks Research upgraded shares of RingCentral (NYSE:RNG) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on RNG. Robert W. Baird boosted their price target on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Rosenblatt Securities lifted their price objective on shares of RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research report on Friday, February 20th. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a report on Friday, February 20th. Weiss Ratings upgraded shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Finally, Piper Sandler lifted 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. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.04.

RingCentral Price Performance

RNG opened at $42.11 on Wednesday. The firm has a market cap of $3.65 billion, a P/E ratio of 87.73, a PEG ratio of 1.56 and a beta of 1.14. RingCentral has a 1-year low of $20.58 and a 1-year high of $42.42. The company has a 50 day simple moving average of $29.93 and a two-hundred day simple moving average of $29.45.

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. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The company had revenue of $644.03 million during the quarter, compared to the consensus estimate of $643.52 million. During the same quarter in the prior year, the firm posted $0.98 EPS. RingCentral’s quarterly revenue was up 4.8% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%.

Insider Buying and Selling

In other news, CAO Tarun Arora sold 3,723 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $36.14, for a total transaction of $134,549.22. Following the transaction, the chief accounting officer owned 84,332 shares of the company’s stock, valued at approximately $3,047,758.48. The trade was a 4.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vladimir Shmunis sold 95,831 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total value of $3,410,625.29. Following the sale, the chief executive officer owned 126,685 shares in the company, valued at $4,508,719.15. The trade was a 43.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 250,686 shares of company stock worth $8,865,429. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of RingCentral by 22.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after purchasing an additional 228,202 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of RingCentral by 544.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after buying an additional 77,663 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of RingCentral by 79.4% in the second quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock worth $9,610,000 after buying an additional 150,537 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of RingCentral by 29.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock worth $16,999,000 after acquiring an additional 134,992 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new position in RingCentral during the 2nd quarter valued at $430,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.