RingCentral, Inc. (NYSE:RNG) Receives $34.04 Average Target Price from Brokerages

RingCentral, Inc. (NYSE:RNG) has been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.0417.

A number of equities analysts have recently issued reports on RNG shares. Morgan Stanley increased their price target on shares of RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Rosenblatt Securities lifted their price target 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. Mizuho boosted their price target on RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Piper Sandler raised their price objective on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Finally, Robert W. Baird boosted their target price on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, February 23rd.

Insider Buying and Selling at RingCentral

In other RingCentral news, CAO Tarun Arora sold 3,723 shares of RingCentral stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $36.14, for a total transaction of $134,549.22. Following the completion of the transaction, the chief accounting officer owned 84,332 shares in the company, valued at approximately $3,047,758.48. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kira Makagon sold 46,960 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $35.49, for a total transaction of $1,666,610.40. Following the completion of the sale, the chief operating officer owned 369,524 shares in the company, valued at $13,114,406.76. This represents a 11.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 250,686 shares of company stock valued at $8,865,429. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On RingCentral

A number of institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC boosted its stake in shares of RingCentral by 15.8% during the fourth quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock valued at $77,000 after acquiring an additional 366 shares during the last quarter. Amalgamated Bank lifted its holdings in RingCentral by 6.9% in the 3rd quarter. Amalgamated Bank now owns 6,512 shares of the software maker’s stock valued at $185,000 after purchasing an additional 418 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of RingCentral by 98.5% during the 3rd quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after purchasing an additional 447 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock worth $37,000 after buying an additional 464 shares in the last quarter. Finally, Xponance LLC raised its position in shares of RingCentral by 4.0% in the fourth quarter. Xponance LLC now owns 12,059 shares of the software maker’s stock valued at $348,000 after buying an additional 464 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

RingCentral Trading Up 6.7%

NYSE RNG opened at $39.29 on Monday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 81.86, a PEG ratio of 1.45 and a beta of 1.14. The business’s 50 day moving average is $29.47 and its two-hundred day moving average is $29.29. RingCentral has a 12-month low of $20.58 and a 12-month high of $40.64.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $644.03 million for the quarter, compared to the consensus estimate of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. 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 forecast that RingCentral will post 1.29 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a $0.075 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.30 annualized dividend and a dividend yield of 0.8%.

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.