RingCentral (RNG) to Release Quarterly Earnings on Thursday

RingCentral (NYSE:RNG - Get Free Report) is projected to post its Q1 2025 quarterly earnings results after the market closes on Thursday, May 8th. Analysts expect RingCentral to post earnings of $0.96 per share and revenue of $610.53 million for the quarter. RingCentral has set its FY 2025 guidance at 4.130-4.270 EPS and its Q1 2025 guidance at 0.930-0.970 EPS.

RingCentral (NYSE:RNG - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The software maker reported $0.23 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.73). The company had revenue of $614.51 million during the quarter, compared to analysts' expectations of $612.37 million. RingCentral had a negative return on equity of 12.34% and a negative net margin of 2.43%. On average, analysts expect RingCentral to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

RingCentral Stock Performance

RNG stock traded up $0.08 during trading on Tuesday, hitting $25.82. 757,145 shares of the company traded hands, compared to its average volume of 1,343,483. The company has a 50-day moving average of $25.34 and a 200-day moving average of $31.99. RingCentral has a 1 year low of $20.59 and a 1 year high of $42.19. The firm has a market capitalization of $2.34 billion, a PE ratio of -40.34, a P/E/G ratio of 1.27 and a beta of 1.33.

Insiders Place Their Bets

In other news, CEO Vladimir Shmunis sold 123,560 shares of RingCentral stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $28.56, for a total transaction of $3,528,873.60. Following the completion of the transaction, the chief executive officer now directly owns 444,740 shares in the company, valued at approximately $12,701,774.40. This trade represents a 21.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John H. Marlow sold 35,089 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $28.56, for a total value of $1,002,141.84. Following the completion of the sale, the senior vice president now directly owns 313,510 shares in the company, valued at approximately $8,953,845.60. This represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 247,740 shares of company stock worth $7,099,279. 6.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RNG has been the topic of several analyst reports. UBS Group decreased their target price on shares of RingCentral from $40.00 to $38.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Rosenblatt Securities decreased their price objective on shares of RingCentral from $40.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Barclays dropped their target price on shares of RingCentral from $37.00 to $31.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Morgan Stanley reduced their price target on RingCentral from $40.00 to $29.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC dropped their price objective on RingCentral from $42.00 to $36.00 and set a "buy" rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $34.46.

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.