RingCentral (RNG) Projected to Post Quarterly Earnings on Tuesday

RingCentral (NYSE:RNG) is expected to post its quarterly earnings results after the market closes on Tuesday, February 18th. Analysts expect RingCentral to post earnings of $0.96 per share and revenue of $612.37 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

RingCentral Trading Up 2.9 %

Shares of RingCentral stock opened at $34.79 on Tuesday. RingCentral has a 1 year low of $26.98 and a 1 year high of $42.19. The stock has a 50-day moving average price of $36.11 and a 200 day moving average price of $34.35. The company has a market cap of $3.15 billion, a P/E ratio of -32.82, a P/E/G ratio of 1.43 and a beta of 1.01.

Analyst Ratings Changes

Several analysts recently commented on RNG shares. Raymond James restated an “outperform” rating and set a $45.00 price target (down from $50.00) on shares of RingCentral in a report on Friday, January 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 target price on shares of RingCentral in a research report on Friday, November 8th. Piper Sandler raised their price target on shares of RingCentral from $31.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Robert W. Baird upped their price objective on shares of RingCentral from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $30.00 target price (down from $38.00) on shares of RingCentral in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $40.60.

Insider Buying and Selling at RingCentral

In other RingCentral news, CEO Vladimir Shmunis sold 66,451 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $34.96, for a total value of $2,323,126.96. Following the transaction, the chief executive officer now directly owns 479,468 shares in the company, valued at $16,762,201.28. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ned D. Segal sold 2,914 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $41.60, for a total transaction of $121,222.40. Following the sale, the director now directly owns 10,633 shares of the company’s stock, valued at approximately $442,332.80. The trade was a 21.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,188 shares of company stock valued at $4,113,047 in the last quarter. Corporate insiders own 6.97% of the company’s stock.

About RingCentral

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.