RingCentral (RNG) Stock Forecast, Price & News

22 Wall Street analysts have issued "buy," "hold," and "sell" ratings for RingCentral in the last twelve months. There are currently 9 hold ratings, 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" RNG shares.
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22 Wall Street research analysts have issued 12 month target prices for RingCentral's shares. Their RNG share price forecasts range from $29.00 to $105.00. On average, they predict the company's stock price to reach $47.17 in the next twelve months. This suggests a possible upside of 32.8% from the stock's current price.
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RingCentral's stock was trading at $35.40 at the beginning of 2023. Since then, RNG stock has increased by 0.3% and is now trading at $35.51.
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RingCentral saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 6,020,000 shares, an increase of 29.2% from the April 30th total of 4,660,000 shares. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is presently 2.7 days.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 1st 2023.
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RingCentral, Inc. (NYSE:RNG) announced its quarterly earnings results on Tuesday, November, 9th. The software maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.95. The software maker had revenue of $414.63 million for the quarter, compared to analysts' expectations of $393.42 million. RingCentral had a negative trailing twelve-month return on equity of 765.97% and a negative net margin of 38.09%. During the same quarter last year, the company earned ($0.24) earnings per share.

ETFs with the largest weight of RingCentral (NYSE:RNG) stock in their portfolio include Global X Education ETF (EDUT), Direxion Work From Home ETF (WFH), First Trust Cloud Computing ETF (SKYY), iShares Virtual Work and Life Multisector ETF (IWFH), AltShares Event-Driven ET (EVNT), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), WisdomTree Cloud Computing Fund (WCLD) and

RingCentral updated its FY23 earnings guidance on Tuesday, May, 9th. The company provided earnings per share guidance of $3.19-3.25 for the period, compared to the consensus EPS estimate of $3.09. The company issued revenue guidance of $2.187-2.205 billion, compared to the consensus revenue estimate of $2.19 billion.

659 employees have rated RingCentral Chief Executive Officer Vlad Shmunis on Glassdoor.com. Vlad Shmunis has an approval rating of 98% among the company's employees. This puts Vlad Shmunis in the top 20% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other RingCentral investors own include NVIDIA (NVDA), Alibaba Group (BABA), Salesforce (CRM), Block (SQ), PayPal (PYPL), Advanced Micro Devices (AMD), DocuSign (DOCU), Netflix (NFLX), Shopify (SHOP) and ServiceNow (NOW).

RingCentral trades on the New York Stock Exchange (NYSE) under the ticker symbol "RNG."

RingCentral's stock is owned by a number of institutional and retail investors. Top institutional investors include Pictet Asset Management SA (4.82%), No Street GP LP (2.49%), Alyeska Investment Group L.P. (2.02%), Susquehanna International Group LLP (0.00%), First Trust Advisors LP (1.74%) and Geode Capital Management LLC (1.15%). Insiders that own company stock include Allan C Thygesen, Anand Eswaran, Godfrey Sullivan, John H Marlow, John H Marlow, Joseph D Mansueto, Kenneth A Goldman, Mckenna Michelle, Mitesh Dhruv, Mohammed Katibeh, Praful Shah, R Neil Williams, Robert I Theis, Sonalee Elizabeth Parekh, Vaibhav Agarwal and Vladimir Shmunis.
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Shares of RNG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of RNG stock can currently be purchased for approximately $35.51.

RingCentral (NYSE:RNG) has a market capitalization of $3.39 billion and generates $1.99 billion in revenue each year. The software maker earns $-879,170,000.00 in net income (profit) each year or ($8.20) on an earnings per share basis.

The company employs 3,902 workers across the globe.

RingCentral's mailing address is 20 DAVIS DRIVE, BELMONT CA, 94002. The official website for the company is www.ringcentral.com. The software maker can be reached via phone at (650) 472-4100, via email at ir@ringcentral.com, or via fax at 888-528-7464.