RingCentral, Inc. (NYSE:RNG) Receives $43.00 Average Price Target from Analysts

Shares of RingCentral, Inc. (NYSE:RNG) have been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.00.

RNG has been the subject of a number of recent research reports. Wells Fargo & Company increased their price target on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and set a $50.00 price target on shares of RingCentral in a research note on Friday, May 8th. Piper Sandler raised their target price on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Mizuho raised their target price on shares of RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Finally, Morgan Stanley raised their target price on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th.

Insider Activity

In other news, COO Kira Makagon sold 5,870 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $40.27, for a total value of $236,384.90. Following the completion of the sale, the chief operating officer owned 236,715 shares in the company, valued at approximately $9,532,513.05. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 95,831 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was 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 trade represents a 43.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 259,854 shares of company stock worth $9,312,708 over the last quarter. Insiders own 7.30% of the company’s stock.

Institutional Trading of RingCentral

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of RingCentral by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock valued at $335,082,000 after purchasing an additional 129,444 shares during the period. Capital World Investors lifted its stake in shares of RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after purchasing an additional 2,031,861 shares during the period. LSV Asset Management lifted its stake in shares of RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the period. AQR Capital Management LLC lifted its stake in shares of RingCentral by 35.4% in 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 purchasing an additional 523,966 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of RingCentral by 150.4% in the first quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock valued at $73,524,000 after purchasing an additional 1,187,437 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Price Performance

Shares of NYSE:RNG opened at $40.70 on Friday. The stock has a market cap of $3.42 billion, a P/E ratio of 43.30, a P/E/G ratio of 1.25 and a beta of 1.13. The firm has a fifty day moving average price of $39.40 and a 200 day moving average price of $32.78. RingCentral has a 1-year low of $23.59 and a 1-year high of $48.57.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $644.20 million during the quarter, compared to analysts’ expectations of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. RingCentral’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Sell-side analysts expect that RingCentral will post 2.69 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is 31.91%.

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.