Wall Street analysts predict that RingCentral Inc (NYSE:RNG) will report earnings of $0.16 per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for RingCentral’s earnings, with estimates ranging from $0.16 to $0.17. RingCentral reported earnings per share of $0.06 in the same quarter last year, which suggests a positive year over year growth rate of 166.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that RingCentral will report full year earnings of $0.67 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.69. For the next fiscal year, analysts forecast that the business will report earnings of $0.83 per share, with EPS estimates ranging from $0.75 to $0.96. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow RingCentral.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Monday, August 6th. The software maker reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. RingCentral had a negative net margin of 3.92% and a negative return on equity of 5.93%. The company had revenue of $160.83 million during the quarter, compared to the consensus estimate of $155.71 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 34.1% on a year-over-year basis.

A number of brokerages have recently weighed in on RNG. Stifel Nicolaus began coverage on shares of RingCentral in a report on Wednesday, July 11th. They set a “buy” rating and a $100.00 price target for the company. Bank of America upped their price target on shares of RingCentral from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Rosenblatt Securities started coverage on shares of RingCentral in a research report on Friday, September 7th. They set a “buy” rating and a $105.00 price objective for the company. Robert W. Baird upped their price objective on shares of RingCentral from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of RingCentral in a research report on Friday, June 15th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. RingCentral currently has a consensus rating of “Buy” and an average price target of $88.36.

In related news, insider Praful Shah sold 3,109 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $93.62, for a total transaction of $291,064.58. Following the completion of the transaction, the insider now directly owns 308,204 shares in the company, valued at approximately $28,854,058.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vladimir Shmunis sold 50,698 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $95.87, for a total transaction of $4,860,417.26. Following the transaction, the chief executive officer now owns 315,671 shares of the company’s stock, valued at $30,263,378.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,992 shares of company stock valued at $17,667,965. 11.99% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in RNG. US Bancorp DE increased 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 during the period. Cerebellum GP LLC acquired a new position in RingCentral in the 2nd quarter valued at approximately $183,000. Sun Life Financial INC acquired a new position in RingCentral in the 2nd quarter valued at approximately $185,000. NewSquare Capital LLC acquired a new position in RingCentral in the 2nd quarter valued at approximately $188,000. Finally, IFP Advisors Inc acquired a new position in RingCentral in the 1st quarter valued at approximately $198,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Shares of RingCentral stock traded down $1.00 on Monday, reaching $93.05. 566,065 shares of the stock were exchanged, compared to its average volume of 623,701. RingCentral has a one year low of $40.20 and a one year high of $98.15. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 1.24. The company has a market cap of $7.49 billion, a PE ratio of -265.86 and a beta of 0.81.

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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