RingCentral (NYSE:RNG) Price Target Cut to $28.00 by Analysts at Rosenblatt Securities
2025-04-26T07:56:46Z
RingCentral (NYSE:RNG – Get Free Report) had its price objective reduced by analysts at Rosenblatt Securities from $40.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Ro…
RingCentral (NYSE:RNG – Get Free Report) had its price objective reduced by analysts at Rosenblatt Securities from $40.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ target price indicates a potential upside of 11.51% from the company’s current price.
RNG has been the subject of several other research reports. UBS Group decreased their price target on shares of RingCentral from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Needham & Company LLC decreased their target price on RingCentral from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Morgan Stanley dropped their price target on RingCentral from $40.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler decreased their price objective on RingCentral from $38.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Raymond James dropped their target price on shares of RingCentral from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, RingCentral currently has an average rating of “Hold” and a consensus price target of $34.46.
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RingCentral Stock Up 0.4 %
RNG opened at $25.11 on Thursday. The business has a fifty day moving average of $25.90 and a 200 day moving average of $32.33. The stock has a market cap of $2.28 billion, a P/E ratio of -39.23, a PEG ratio of 1.27 and a beta of 1.30. RingCentral has a 52-week low of $20.59 and a 52-week high of $42.19.
RingCentral (NYSE:RNG – Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The software maker reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.73). RingCentral had a negative return on equity of 12.34% and a negative net margin of 2.43%. The company had revenue of $614.51 million during the quarter, compared to the consensus estimate of $612.37 million. Equities analysts anticipate that RingCentral will post 1.29 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, SVP John H. Marlow sold 35,089 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $28.56, for a total transaction of $1,002,141.84. Following the transaction, the senior vice president now directly owns 313,510 shares of the company’s stock, valued at $8,953,845.60. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vladimir Shmunis sold 66,112 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $28.83, for a total value of $1,906,008.96. Following the completion of the sale, the chief executive officer now owns 568,300 shares of the company’s stock, valued at approximately $16,384,089. This trade represents a 10.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,740 shares of company stock valued at $7,099,279. 6.97% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of RNG. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of RingCentral during the fourth quarter valued at $49,000. Venturi Wealth Management LLC lifted its position in RingCentral by 55.2% during the 4th quarter. Venturi Wealth Management LLC now owns 2,891 shares of the software maker’s stock worth $101,000 after acquiring an additional 1,028 shares during the period. KBC Group NV grew its stake in RingCentral by 30.8% during the 4th quarter. KBC Group NV now owns 3,478 shares of the software maker’s stock valued at $122,000 after purchasing an additional 819 shares during the last quarter. Quarry LP increased its holdings in shares of RingCentral by 84.1% in the fourth quarter. Quarry LP now owns 3,501 shares of the software maker’s stock valued at $123,000 after purchasing an additional 1,599 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of RingCentral by 1,803.3% in the first quarter. GAMMA Investing LLC now owns 5,843 shares of the software maker’s stock valued at $145,000 after purchasing an additional 5,536 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.
About RingCentral
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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.
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