Ringcentral, Inc. (NYSE:RNG) Given Consensus Rating of "Hold" by Analysts

Key Points

• RingCentral, Inc. has received a consensus rating of "Hold" from 14 analysts, with varying recommendations, including one sell, nine hold, and four buy ratings.
• The stock has experienced a price target adjustment, with Jefferies Financial Group lowering its target from $30.00 to $29.00 and UBS Group adjusting it from $33.00 to $32.00.
• In its most recent earnings report, RingCentral exceeded analyst expectations with an earnings per share of $1.06 and a quarterly revenue increase of 4.6% year-over-year.

Ringcentral, Inc. (NYSE:RNG - Get Free Report) has been assigned a consensus rating of "Hold" from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.6154.

RNG has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. KeyCorp started 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. Mizuho raised their price target on Ringcentral from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Finally, UBS Group decreased their price target on Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th.

Ringcentral Stock Performance

Shares of Ringcentral stock opened at $31.88 on Monday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -227.73, a price-to-earnings-growth ratio of 1.47 and a beta of 1.32. The stock has a 50 day moving average price of $28.53 and a 200-day moving average price of $27.01. Ringcentral has a one year low of $20.58 and a one year high of $42.19.

Ringcentral (NYSE:RNG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.04. The firm 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 company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. Sell-side analysts predict that Ringcentral will post 1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Tarun Arora sold 1,037 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.09, for a total transaction of $32,240.33. Following the completion of the sale, the chief accounting officer directly owned 110,626 shares of the company's stock, valued at approximately $3,439,362.34. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Shmunis sold 27,018 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $30.54, for a total value of $825,129.72. Following the sale, the chief executive officer directly owned 407,529 shares of the company's stock, valued at $12,445,935.66. This represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,391 shares of company stock valued at $3,095,392 over the last quarter. 6.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ringcentral

A number of institutional investors and hedge funds have recently bought and sold shares of RNG. Parallel Advisors LLC raised its position in Ringcentral by 256.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker's stock valued at $42,000 after purchasing an additional 1,066 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Ringcentral during the 1st quarter valued at $49,000. Ameritas Advisory Services LLC bought a new stake in Ringcentral during the 2nd quarter valued at $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ringcentral by 103.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,823 shares of the software maker's stock valued at $52,000 after purchasing an additional 925 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Ringcentral by 26.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker's stock valued at $72,000 after purchasing an additional 615 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.