RingCentral (NYSE:RNG) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

RingCentral (NYSE:RNG) had its target price boosted by equities research analysts at Needham & Company LLC from $55.00 to $85.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 24.27% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Robert W. Baird set a $45.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Rosenblatt Securities reissued a “buy” rating and set a $50.00 target price on shares of RingCentral in a research report on Friday, July 24th. Morgan Stanley lifted their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Piper Sandler upped their price objective on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, RingCentral currently has an average rating of “Hold” and an average target price of $49.60.

RingCentral Stock Performance

RNG stock opened at $68.40 on Friday. RingCentral has a fifty-two week low of $24.14 and a fifty-two week high of $69.78. The stock’s 50 day simple moving average is $50.51 and its 200 day simple moving average is $42.81. The company has a market cap of $5.71 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. RingCentral’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. Equities analysts predict that RingCentral will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral 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. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 675 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $67.45, for a total transaction of $45,528.75. Following the completion of the sale, the chief accounting officer directly owned 79,709 shares in the company, valued at approximately $5,376,372.05. The trade was a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 19,125 shares of company stock worth $1,020,278. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On RingCentral

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in RingCentral in the 1st quarter worth about $697,000. Robertson Stephens Wealth Management LLC increased its position in shares of RingCentral by 124.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock worth $2,608,000 after purchasing an additional 50,122 shares during the last quarter. LSV Asset Management increased its position 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 worth $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in RingCentral by 11.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock valued at $42,057,000 after purchasing an additional 149,532 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in RingCentral by 60.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock valued at $8,096,000 after purchasing an additional 105,145 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.