RingCentral (NYSE:RNG) Releases Earnings Results

RingCentral (NYSE:RNG) posted its earnings results on Thursday. The software maker reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.73), Zacks reports. RingCentral had a negative return on equity of 2.55% and a negative net margin of 4.17%. RingCentral updated its FY 2025 guidance to 4.130-4.270 EPS and its Q1 2025 guidance to 0.930-0.970 EPS.

RingCentral Trading Down 3.0 %

NYSE RNG traded down $0.96 on Thursday, hitting $30.78. 2,385,007 shares of the company traded hands, compared to its average volume of 1,130,021. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -29.04, a P/E/G ratio of 1.39 and a beta of 1.01. The business’s 50 day moving average price is $35.24 and its 200-day moving average price is $34.32. RingCentral has a 52-week low of $26.98 and a 52-week high of $42.19.

Insider Activity at RingCentral

In other news, SVP John H. Marlow sold 8,720 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $42.05, for a total value of $366,676.00. Following the transaction, the senior vice president now directly owns 334,869 shares in the company, valued at $14,081,241.45. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ned D. Segal sold 2,914 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $41.60, for a total value of $121,222.40. Following the completion of the transaction, the director now owns 10,633 shares in the company, valued at $442,332.80. The trade was a 21.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,091 shares of company stock worth $542,958. Corporate insiders own 6.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RNG shares. StockNews.com lowered RingCentral from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Mizuho reduced their target price on RingCentral from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Raymond James reissued an “outperform” rating and issued a $45.00 target price (down previously from $50.00) on shares of RingCentral in a report on Friday, January 3rd. Morgan Stanley lifted their target price on RingCentral from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Finally, Piper Sandler lifted their target price on RingCentral from $31.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.60.

RingCentral Company Profile

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.