RingCentral (RNG) Stock Forecast, Price & News

22 Wall Street research 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 research analysts is that investors should "buy" RNG shares.
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22 brokerages 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 anticipate the company's share price to reach $47.17 in the next twelve months. This suggests a possible upside of 36.6% 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 2.5% and is now trading at $34.52.
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RingCentral saw a increase in short interest in 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 daily volume of 2,220,000 shares, the short-interest ratio is currently 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) issued its earnings results on Tuesday, November, 9th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.59) by $0.95. The software maker earned $414.63 million during the quarter, compared to the consensus estimate of $393.42 million. RingCentral had a negative net margin of 38.09% and a negative trailing twelve-month return on equity of 765.97%. During the same period in the previous year, the business posted ($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 issued an update on 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 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 variety of retail and institutional 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 $34.52.

RingCentral (NYSE:RNG) has a market capitalization of $3.30 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.