RingCentral (RNG) Expected to Announce Earnings on Thursday

RingCentral (NYSE:RNG - Get Free Report) is expected to issue its Q1 2025 quarterly earnings data after the market closes on Thursday, May 8th. Analysts expect the company to announce 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 issued its earnings results on Thursday, February 20th. The software maker reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.73). RingCentral had a negative return on equity of 12.34% and a negative net margin of 2.43%. The business had revenue of $614.51 million for the quarter, compared to the consensus estimate of $612.37 million. On average, analysts expect RingCentral to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

RingCentral Trading Up 1.8 %

Shares of RNG traded up $0.45 during mid-day trading on Friday, hitting $25.83. The company's stock had a trading volume of 1,087,792 shares, compared to its average volume of 1,345,714. The company's 50-day moving average is $25.45 and its 200-day moving average is $32.10. RingCentral has a 52-week low of $20.59 and a 52-week high of $42.19. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -40.36, a PEG ratio of 1.27 and a beta of 1.30.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RNG shares. Needham & Company LLC cut their price target on RingCentral from $42.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Barclays cut their target price on RingCentral from $37.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Friday, February 21st. Raymond James reduced their target price on shares of RingCentral from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Mizuho cut their price objective on shares of RingCentral from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, StockNews.com lowered shares of RingCentral from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $34.46.

Insider Buying and Selling

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