RingCentral Inc (NYSE:RNG) – Analysts at William Blair upped their FY2018 earnings per share estimates for shares of RingCentral in a research report issued on Tuesday, November 6th. William Blair analyst B. Suri now expects that the software maker will earn ($0.13) per share for the year, up from their previous forecast of ($0.15). William Blair also issued estimates for RingCentral’s Q4 2018 earnings at ($0.08) EPS, Q1 2019 earnings at ($0.11) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.10) EPS, Q4 2019 earnings at ($0.08) EPS and FY2019 earnings at ($0.39) EPS.

RNG has been the topic of a number of other reports. Rosenblatt Securities began coverage on shares of RingCentral in a research note on Friday, September 7th. They issued a “buy” rating and a $105.00 price objective on the stock. TheStreet cut shares of RingCentral from a “c” rating to a “d+” rating in a research report on Tuesday, November 6th. Craig Hallum lifted their price target on shares of RingCentral from $84.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of RingCentral to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Finally, Bank of America reduced their price target on shares of RingCentral from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. RingCentral has an average rating of “Buy” and an average price target of $89.80.

Shares of RNG stock opened at $83.68 on Friday. RingCentral has a 52-week low of $43.85 and a 52-week high of $98.15. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -239.09 and a beta of 1.02. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 1.24.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Monday, November 5th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. RingCentral had a negative net margin of 4.25% and a negative return on equity of 3.84%. The firm had revenue of $173.83 million for the quarter, compared to analysts’ expectations of $166.70 million. During the same period last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis.

In other news, CEO Vladimir Shmunis sold 50,508 shares of RingCentral stock in a transaction on Monday, August 20th. The shares were sold at an average price of $89.29, for a total transaction of $4,509,859.32. Following the transaction, the chief executive officer now directly owns 349,282 shares of the company’s stock, valued at $31,187,389.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO John H. Marlow sold 14,500 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $93.45, for a total transaction of $1,355,025.00. Following the completion of the sale, the chief accounting officer now directly owns 153,218 shares in the company, valued at $14,318,222.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,849 shares of company stock worth $22,442,584. Insiders own 11.99% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale lifted its position in RingCentral by 75.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,401 shares of the software maker’s stock valued at $130,000 after acquiring an additional 601 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in RingCentral by 287.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,513 shares of the software maker’s stock valued at $141,000 after acquiring an additional 1,122 shares in the last quarter. US Bancorp DE lifted its position in RingCentral by 141.7% in the 2nd quarter. US Bancorp DE now owns 1,745 shares of the software maker’s stock valued at $123,000 after acquiring an additional 1,023 shares in the last quarter. Oakbrook Investments LLC bought a new stake in RingCentral in the 3rd quarter valued at $205,000. Finally, NewSquare Capital LLC bought a new stake in RingCentral in the 2nd quarter valued at $188,000. 78.47% of the stock is currently owned by institutional investors and hedge funds.

About RingCentral

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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Earnings History and Estimates for RingCentral (NYSE:RNG)

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