RingCentral (NYSE:RNG) Reaches New 52-Week High Following Analyst Upgrade

RingCentral, Inc. (NYSE:RNG)’s stock price hit a new 52-week high on Saturday after Mizuho raised their price target on the stock from $38.00 to $40.00. Mizuho currently has a neutral rating on the stock. RingCentral traded as high as $50.14 and last traded at $48.3270, with a volume of 8917197 shares trading hands. The stock had previously closed at $38.62.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Piper Sandler upped their target price on shares of RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday. Rosenblatt Securities reiterated a “buy” rating and set a $50.00 target price on shares of RingCentral in a research report on Friday. Morgan Stanley lifted their price target on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.40.

Insider Activity

In other RingCentral news, CFO Vaibhav Agarwal sold 7,047 shares of RingCentral stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total value of $325,359.99. Following the completion of the transaction, the chief financial officer owned 169,282 shares in the company, valued at approximately $7,815,749.94. The trade was a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the completion of the transaction, the director directly owned 29,372 shares in the company, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 38,628 shares of company stock worth $1,656,201. 7.30% of the stock is currently owned by insiders.

Key Headlines Impacting RingCentral

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: RingCentral reported Q2 EPS of $1.22 versus $1.16 expected and revenue of $657.0 million versus $650.5 million expected, showing a solid beat on both the top and bottom lines. RingCentral Q2 Earnings Report
• Positive Sentiment: The company raised Q3 2026 guidance to EPS of $1.25-$1.30 and revenue of $664 million-$670 million, both above consensus, and lifted FY 2026 EPS guidance to $4.96-$5.10. RingCentral Financial Results
• Positive Sentiment: Management and recent commentary point to stronger subscription growth, higher margins, and expanding AI adoption, which are supporting the improved growth outlook. Zacks Q2 Earnings Article
• Positive Sentiment: RingCentral also announced a 66.7% increase in its quarterly dividend to $0.125 per share, signaling confidence in cash generation and capital returns. Insider Monkey Article
• Neutral Sentiment: Mizuho raised its price target to $40 but kept a neutral rating, which is below the current trading level and suggests some caution on valuation. Mizuho Price Target Update
• Neutral Sentiment: Rosenblatt reaffirmed a buy rating with a $50 target, broadly reinforcing the positive post-earnings sentiment. Rosenblatt Rating Update

Institutional Investors Weigh In On RingCentral

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in shares of RingCentral by 9.0% in the first quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock worth $283,000 after acquiring an additional 940 shares during the last quarter. Woodline Partners LP grew its stake in shares of RingCentral by 14.8% during the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of RingCentral by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after purchasing an additional 5,398 shares during the last quarter. Creative Planning acquired a new stake in shares of RingCentral in the second quarter valued at approximately $274,000. Finally, Invesco Ltd. increased its holdings in shares of RingCentral by 10.8% in the second quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock valued at $3,910,000 after purchasing an additional 13,446 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

RingCentral Stock Performance

The firm’s 50-day moving average is $40.41 and its two-hundred day moving average is $36.84. The stock has a market cap of $4.05 billion, a P/E ratio of 38.66, a PEG ratio of 1.42 and a beta of 1.14.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.06. The firm had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, research analysts forecast that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. RingCentral’s payout ratio is currently 24.00%.

About RingCentral

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.