RingCentral (RNG) Stock Price, News & Analysis

20 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for RingCentral in the last year. There are currently 10 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" RNG shares.
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20 brokers have issued 12-month target prices for RingCentral's stock. Their RNG share price targets range from $29.00 to $54.00. On average, they anticipate the company's share price to reach $41.57 in the next twelve months. This suggests a possible upside of 26.1% 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 decreased by 6.9% and is now trading at $32.97.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 21st 2024.
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RingCentral, Inc. (NYSE:RNG) announced its earnings results on Monday, November, 6th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.08. The software maker earned $558.16 million during the quarter, compared to the consensus estimate of $553.92 million.

ETFs with the largest weight of RingCentral (NYSE:RNG) stock in their portfolio include Global X Education ETF (EDUT), iShares Virtual Work and Life Multisector ETF (IWFH), Direxion Work From Home ETF (WFH), First Trust Cloud Computing ETF (SKYY), WisdomTree Cloud Computing Fund (WCLD), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), Global X Founder-Run Companies ETF (BOSS) and Wedbush ETFMG Global Cloud Technology ETF (IVES).

RingCentral issued an update on its fourth quarter earnings guidance on Monday, December, 11th. The company provided EPS guidance of $0.82-0.83 for the period, compared to the consensus estimate of $0.82. The company issued revenue guidance of $566.5-573.5 million, compared to the consensus revenue estimate of $570.47 million.

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's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Sylebra Capital LLC (8.73%), Ameriprise Financial Inc. (2.87%), AQR Capital Management LLC (0.96%), Charles Schwab Investment Management Inc. (0.77%), Bank of New York Mellon Corp (0.72%) and Maple Rock Capital Partners Inc. (0.55%). Insiders that own company stock include Anand Eswaran, Godfrey Sullivan, John H Marlow, John H Marlow, Joseph D Mansueto, 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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