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 equities research analysts have issued twelve-month target prices for RingCentral's shares. Their RNG share price forecasts range from $35.00 to $175.00. On average, they predict the company's stock price to reach $59.70 in the next twelve months. This suggests a possible upside of 94.6% from the stock's current price.
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RingCentral's stock was trading at $35.40 at the start of the year. Since then, RNG stock has decreased by 13.4% and is now trading at $30.67.
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The company is scheduled to release its next quarterly earnings announcement on Monday, May 8th 2023.
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RingCentral, Inc. (NYSE:RNG) announced its quarterly earnings results on Wednesday, February, 15th. The software maker reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.13. The software maker had revenue of $524.75 million for the quarter, compared to the consensus estimate of $528.41 million. RingCentral had a negative trailing twelve-month return on equity of 765.97% and a negative net margin of 44.22%.

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), iShares Virtual Work and Life Multisector ETF (IWFH), First Trust Cloud Computing ETF (SKYY), WisdomTree Cloud Computing Fund (WCLD), ProShares Ultra Cloud Computing (SKYU), Wedbush ETFMG Global Cloud Technology ETF (IVES) and Goldman Sachs Future Tech Leaders Equity ETF (GTEK).

RingCentral updated its FY 2023 earnings guidance on Wednesday, February, 15th. The company provided EPS guidance of $3.04-$3.10 for the period, compared to the consensus EPS estimate of $2.84. The company issued revenue guidance of $2.18 billion-$2.20 billion, compared to the consensus revenue estimate of $2.33 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 Renaissance Technologies LLC (1.97%), Alyeska Investment Group L.P. (1.79%), First Trust Advisors LP (1.58%), Millennium Management LLC (1.33%), Geode Capital Management LLC (1.10%) and Norges Bank (0.92%). 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 $30.67.

RingCentral (NYSE:RNG) has a market capitalization of $2.93 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 ($9.23) 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.