RingCentral (RNG) Scheduled to Post Earnings on Thursday

RingCentral (NYSE:RNG) will be posting its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect RingCentral to post earnings of $0.92 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

RingCentral Stock Up 1.2 %

RingCentral stock opened at $36.60 on Wednesday. RingCentral has a 12 month low of $26.23 and a 12 month high of $38.35. The business has a 50 day moving average price of $31.81 and a two-hundred day moving average price of $32.05. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -25.69, a price-to-earnings-growth ratio of 2.84 and a beta of 0.99.

Insider Buying and Selling

In related news, CFO Vaibhav Agarwal sold 1,985 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $31.40, for a total transaction of $62,329.00. Following the sale, the chief financial officer now owns 135,560 shares of the company’s stock, valued at approximately $4,256,584. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Vladimir Shmunis sold 62,244 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.51, for a total value of $2,023,552.44. Following the completion of the transaction, the chief executive officer now owns 573,725 shares in the company, valued at $18,651,799.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Agarwal sold 1,985 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.40, for a total value of $62,329.00. Following the completion of the transaction, the chief financial officer now owns 135,560 shares of the company’s stock, valued at $4,256,584. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,824 shares of company stock valued at $3,386,396. 6.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

RNG has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on RingCentral from $28.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Rosenblatt Securities restated a “buy” rating and set a $45.00 price target on shares of RingCentral in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of RingCentral in a research report on Monday, August 5th. StockNews.com lowered RingCentral from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 19th. Finally, Robert W. Baird increased their price target on RingCentral from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.07.

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.