Equities research analysts predict that RingCentral Inc (NYSE:RNG) will post earnings per share of $0.19 for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for RingCentral’s earnings, with estimates ranging from $0.18 to $0.21. RingCentral also posted earnings of $0.19 per share in the same quarter last year. The firm is expected to report its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that RingCentral will report full year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.74 to $0.81. For the next year, analysts anticipate that the business will post earnings of $0.95 per share, with EPS estimates ranging from $0.90 to $1.01. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover RingCentral.

RingCentral (NYSE:RNG) last announced its earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.13. RingCentral had a negative return on equity of 1.16% and a negative net margin of 3.95%. The firm had revenue of $215.20 million during the quarter, compared to analyst estimates of $204.70 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 33.8% compared to the same quarter last year.

RNG has been the subject of several research reports. UBS Group increased their target price on RingCentral from $117.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Northland Securities increased their target price on RingCentral from $124.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Craig Hallum raised their price objective on RingCentral from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Stephens reaffirmed a “hold” rating and set a $95.00 price objective on shares of RingCentral in a research report on Monday, May 6th. Finally, Raymond James raised their price objective on RingCentral from $140.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. RingCentral has an average rating of “Buy” and a consensus price target of $135.94.

Shares of NYSE:RNG traded up $2.52 during trading on Tuesday, hitting $140.91. The stock had a trading volume of 787,000 shares, compared to its average volume of 802,737. RingCentral has a 12 month low of $64.41 and a 12 month high of $146.38. The company has a market cap of $11.41 billion, a P/E ratio of -3,522.75 and a beta of 0.79. The company has a fifty day moving average of $125.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.08 and a quick ratio of 3.08.

In other RingCentral news, COO David Sipes sold 13,500 shares of RingCentral stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $124.08, for a total value of $1,675,080.00. Following the completion of the sale, the chief operating officer now owns 288,367 shares of the company’s stock, valued at approximately $35,780,577.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Praful Shah sold 5,456 shares of RingCentral stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $121.09, for a total value of $660,667.04. Following the completion of the sale, the insider now directly owns 269,657 shares of the company’s stock, valued at approximately $32,652,766.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 358,541 shares of company stock valued at $43,812,268. 11.03% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC bought a new stake in shares of RingCentral in the 1st quarter worth $36,000. Signaturefd LLC increased its holdings in shares of RingCentral by 31.4% in the 1st quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock worth $39,000 after purchasing an additional 87 shares in the last quarter. Baldwin Brothers Inc. MA increased its holdings in shares of RingCentral by 90.0% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 380 shares of the software maker’s stock worth $44,000 after purchasing an additional 180 shares in the last quarter. Glen Harbor Capital Management LLC increased its holdings in shares of RingCentral by 140.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 384 shares of the software maker’s stock worth $44,000 after purchasing an additional 224 shares in the last quarter. Finally, Tyers Asset Management LLC increased its holdings in shares of RingCentral by 140.0% in the 2nd quarter. Tyers Asset Management LLC now owns 528 shares of the software maker’s stock worth $61,000 after purchasing an additional 308 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

RingCentral Company Profile

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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Earnings History and Estimates for RingCentral (NYSE:RNG)

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