RingCentral (RNG) Scheduled to Post Earnings on Tuesday

RingCentral (NYSE:RNG - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Tuesday, May 7th. Analysts expect RingCentral to post earnings of $0.80 per share for the quarter. Persons interested in participating in the company's earnings conference call can do so using this link.

RingCentral (NYSE:RNG - Get Free Report) last posted its earnings results on Tuesday, February 20th. The software maker reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.31). The company had revenue of $571.27 million during the quarter, compared to analysts' expectations of $569.65 million. On average, analysts expect RingCentral to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RingCentral Trading Down 4.9 %

NYSE:RNG traded down $1.53 during trading hours on Tuesday, hitting $29.62. The company's stock had a trading volume of 1,306,180 shares, compared to its average volume of 1,139,255. The stock has a fifty day moving average of $32.93 and a 200-day moving average of $31.86. The stock has a market capitalization of $2.73 billion, a P/E ratio of -17.10, a price-to-earnings-growth ratio of 3.25 and a beta of 0.92. RingCentral has a 52-week low of $25.08 and a 52-week high of $43.28.

Insider Activity at RingCentral

In related news, Director Kenneth A. Goldman sold 1,287 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $34.47, for a total value of $44,362.89. Following the completion of the sale, the director now owns 23,688 shares in the company, valued at $816,525.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Kenneth A. Goldman sold 1,287 shares of RingCentral stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $34.47, for a total transaction of $44,362.89. Following the completion of the sale, the director now directly owns 23,688 shares in the company, valued at approximately $816,525.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Agarwal sold 14,113 shares of RingCentral stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $34.84, for a total transaction of $491,696.92. Following the sale, the chief financial officer now owns 116,640 shares of the company's stock, valued at $4,063,737.60. The disclosure for this sale can be found here. Insiders sold a total of 23,608 shares of company stock worth $800,974 over the last 90 days. Company insiders own 6.76% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RNG. The Goldman Sachs Group dropped their price objective on RingCentral from $38.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, February 21st. Morgan Stanley dropped their price objective on RingCentral from $35.00 to $32.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 17th. Mizuho dropped their price objective on RingCentral from $40.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, February 21st. Piper Sandler dropped their price objective on RingCentral from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Wednesday, February 21st. Finally, Wedbush reiterated a "neutral" rating and set a $40.00 target price on shares of RingCentral in a research note on Friday, February 16th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.56.

RingCentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company's products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.