Equities research analysts expect RingCentral Inc (NYSE:RNG) to announce sales of $137.00 million for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for RingCentral’s earnings. The highest sales estimate is $137.58 million and the lowest is $136.06 million. RingCentral posted sales of $104.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 31.1%. The firm is scheduled to announce its next earnings results on Monday, February 12th.

According to Zacks, analysts expect that RingCentral will report full year sales of $137.00 million for the current fiscal year, with estimates ranging from $497.05 million to $498.57 million. For the next financial year, analysts forecast that the firm will post sales of $615.39 million per share, with estimates ranging from $607.73 million to $619.91 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for RingCentral.

RingCentral (NYSE:RNG) last issued its earnings results on Wednesday, November 8th. The software maker reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. RingCentral had a negative net margin of 5.80% and a negative return on equity of 17.97%. The company had revenue of $129.76 million for the quarter, compared to analyst estimates of $126.06 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of RingCentral from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and issued a $48.00 price target on shares of RingCentral in a report on Thursday, October 19th. JPMorgan Chase & Co. downgraded shares of RingCentral from an “overweight” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Tuesday, December 12th. Bank of America upped their price target on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $46.00 price target on shares of RingCentral in a report on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $45.14.

In related news, CAO John H. Marlow sold 1,945 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $48.65, for a total transaction of $94,624.25. Following the transaction, the chief accounting officer now owns 120,373 shares of the company’s stock, valued at $5,856,146.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David Sipes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $44.00, for a total transaction of $66,000.00. The disclosure for this sale can be found here. Insiders have sold 229,434 shares of company stock worth $11,025,382 in the last three months. Insiders own 14.53% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of RingCentral by 7.3% during the second quarter. State Street Corp now owns 1,253,662 shares of the software maker’s stock valued at $45,824,000 after buying an additional 85,404 shares during the period. Bank of Nova Scotia purchased a new position in shares of RingCentral during the second quarter valued at approximately $1,871,000. FMR LLC lifted its stake in shares of RingCentral by 40.1% during the second quarter. FMR LLC now owns 2,905,422 shares of the software maker’s stock valued at $106,193,000 after buying an additional 832,314 shares during the period. Prudential Financial Inc. purchased a new position in shares of RingCentral during the second quarter valued at approximately $382,000. Finally, Nationwide Fund Advisors increased its position in RingCentral by 66.8% during the second quarter. Nationwide Fund Advisors now owns 141,441 shares of the software maker’s stock worth $5,170,000 after purchasing an additional 56,644 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of RingCentral (NYSE:RNG) traded up $0.75 on Thursday, reaching $52.35. 546,320 shares of the company’s stock traded hands, compared to its average volume of 327,116. RingCentral has a one year low of $21.35 and a one year high of $52.60. The firm has a market capitalization of $4,049.32, a price-to-earnings ratio of -149.57 and a beta of 0.80.

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RingCentral Company Profile

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

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