Ringcentral (NYSE:RNG) Receives Sell (D-) Rating from Weiss Ratings

Ringcentral (NYSE:RNG - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other analysts have also weighed in on the company. Wells Fargo & Company initiated coverage on Ringcentral in a research note on Tuesday, September 30th. They issued an "equal weight" rating and a $32.00 price objective on the stock. Wall Street Zen raised Ringcentral from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. UBS Group lowered their price objective on Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group lowered 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. Finally, Oppenheimer upgraded Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.38.

Ringcentral Stock Performance

Shares of NYSE RNG opened at $27.12 on Wednesday. The stock's fifty day moving average is $29.60 and its 200 day moving average is $27.41. The stock has a market capitalization of $2.46 billion, a P/E ratio of -193.70, a PEG ratio of 1.21 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 released its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The business had revenue of $620.40 million for the quarter, compared to analyst estimates of $617.90 million. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.Ringcentral's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $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. Equities research analysts forecast that Ringcentral will post 1.29 earnings per share for the current year.

Insider Activity

In related news, CFO Vaibhav Agarwal sold 2,443 shares of Ringcentral stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $30.70, for a total transaction of $75,000.10. Following the transaction, the chief financial officer owned 226,448 shares of the company's stock, valued at $6,951,953.60. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Tarun Arora sold 1,037 shares of Ringcentral stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $31.09, for a total value of $32,240.33. Following the transaction, the chief accounting officer directly owned 110,626 shares in the company, valued at approximately $3,439,362.34. The trade was a 0.93% decrease in their position. 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 quarter. 6.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of Ringcentral by 256.9% during the second quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker's stock valued at $42,000 after buying an additional 1,066 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Ringcentral during the first quarter valued at approximately $49,000. Ameritas Advisory Services LLC purchased a new position in shares of Ringcentral during the second quarter valued at approximately $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ringcentral by 103.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,823 shares of the software maker's stock valued at $52,000 after buying an additional 925 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Ringcentral by 26.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker's stock valued at $72,000 after buying an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company's stock.

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.

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.