Ringcentral, Inc. (NYSE:RNG) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts have given RingCentral, Inc. (NYSE:RNG) an average rating of "Hold", with ten recommending hold and four recommending buy, alongside a target price of $31.38.
• Insider transactions revealed CEO Vladimir Shmunis sold 46,932 shares, causing a 9.21% decrease in his ownership, while total insider sales in the last ninety days amounted to $2.29 million.
• The company's stock decreased by 0.9%, opening at $27.86, with a market cap of $2.52 billion and a 52-week range between $20.58 and $42.19.

Ringcentral, Inc. (NYSE:RNG - Get Free Report) has received a consensus rating of "Hold" from the fourteen analysts that are currently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.3846.

Several equities research analysts have issued reports on the company. KeyCorp assumed coverage on Ringcentral in a research note on Friday, June 6th. They set a "sector weight" rating for the company. Wall Street Zen raised Ringcentral from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Oppenheimer upgraded Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a research report on Wednesday, August 6th. Jefferies Financial Group lowered their price target on Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group lowered their price target on Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th.

Insider Transactions at Ringcentral

In other news, CEO Vladimir Shmunis sold 46,932 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $28.95, for a total transaction of $1,358,681.40. Following the completion of the transaction, the chief executive officer directly owned 462,429 shares in the company, valued at $13,387,319.55. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Tarun Arora sold 1,037 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $31.09, for a total value of $32,240.33. Following the transaction, the chief accounting officer owned 110,626 shares of the company's stock, valued at approximately $3,439,362.34. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,430 shares of company stock worth $2,291,052 over the last ninety days. Company insiders own 6.97% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RNG. Wealth Enhancement Advisory Services LLC purchased a new position in Ringcentral in the fourth quarter valued at $545,000. GAMMA Investing LLC raised its stake in Ringcentral by 1,803.3% in the first quarter. GAMMA Investing LLC now owns 5,843 shares of the software maker's stock valued at $145,000 after buying an additional 5,536 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in Ringcentral by 19.1% in the first quarter. Wedge Capital Management L L P NC now owns 68,907 shares of the software maker's stock valued at $1,706,000 after buying an additional 11,037 shares in the last quarter. SG Americas Securities LLC raised its stake in Ringcentral by 977.7% in the first quarter. SG Americas Securities LLC now owns 101,379 shares of the software maker's stock valued at $2,510,000 after buying an additional 91,972 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of Ringcentral by 42.4% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 783,742 shares of the software maker's stock worth $19,405,000 after purchasing an additional 233,438 shares in the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Ringcentral Stock Down 0.9%

RNG stock opened at $27.86 on Friday. The business has a fifty day moving average of $29.53 and a two-hundred day moving average of $27.39. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -199.01, a price-to-earnings-growth ratio of 1.29 and a beta of 1.32. Ringcentral has a 52-week low of $20.58 and a 52-week high of $42.19.

Ringcentral (NYSE:RNG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The software maker reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $620.40 million during the quarter, compared to analysts' expectations of $617.90 million. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. As a group, sell-side analysts anticipate that Ringcentral will post 1.29 EPS for the current year.

About Ringcentral

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.

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