Needham & Company LLC Issues Positive Forecast for RingCentral (NYSE:RNG) Stock Price

RingCentral (NYSE:RNG) had its price target hoisted by Needham & Company LLC from $36.00 to $55.00 in a research report released on Friday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

Several other brokerages have also recently issued reports on RNG. Morgan Stanley increased their target price on shares of RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, February 20th. Rosenblatt Securities boosted their price target on shares of RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a report on Friday, February 20th. Zacks Research raised shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Mizuho increased their price objective on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised shares of RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, RingCentral currently has a consensus rating of “Hold” and an average price target of $35.63.

RingCentral Stock Down 0.8%

Shares of NYSE RNG opened at $37.76 on Friday. RingCentral has a twelve month low of $20.58 and a twelve month high of $42.42. The firm has a market cap of $3.27 billion, a PE ratio of 78.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14. The business has a fifty day simple moving average of $30.99 and a two-hundred day simple moving average of $29.77.

RingCentral (NYSE:RNG) last posted its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business 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 business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company 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. On average, research analysts expect that RingCentral will post 1.29 earnings per share for the current year.

RingCentral Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th. RingCentral’s dividend payout ratio is presently 62.50%.

Insider Activity

In related news, CEO Vladimir Shmunis sold 95,831 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total transaction of $3,410,625.29. Following the completion of the sale, the chief executive officer owned 126,685 shares of the company’s stock, valued at $4,508,719.15. This represents a 43.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Tarun Arora sold 8,840 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total transaction of $359,699.60. Following the completion of the sale, the chief accounting officer owned 75,492 shares of the company’s stock, valued at approximately $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 259,526 shares of company stock valued at $9,225,128 over the last 90 days. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RingCentral

A number of large investors have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its holdings in shares of RingCentral by 194.4% during the 4th quarter. Corient Private Wealth LLC now owns 24,783 shares of the software maker’s stock valued at $716,000 after purchasing an additional 16,365 shares during the last quarter. Hsbc Holdings PLC grew its stake in RingCentral by 76.7% during the 4th quarter. Hsbc Holdings PLC now owns 101,445 shares of the software maker’s stock worth $2,934,000 after buying an additional 44,018 shares during the last quarter. DGS Capital Management LLC acquired a new position in RingCentral during the 4th quarter valued at about $239,000. Kera Capital Partners Inc. raised its stake in RingCentral by 75.5% in the fourth quarter. Kera Capital Partners Inc. now owns 16,633 shares of the software maker’s stock valued at $480,000 after buying an additional 7,153 shares during the last quarter. Finally, Invesco Ltd. raised its stake in RingCentral by 43.3% in the fourth quarter. Invesco Ltd. now owns 218,456 shares of the software maker’s stock valued at $6,309,000 after buying an additional 65,975 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

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.