Key Points
- COO Kira Makagon sold 6,495 RingCentral shares on Dec. 26 at an average price of $29.22 for about $189,784, reducing her stake by 1.9% to 336,162 shares (she also sold 14,798 shares on Nov. 26 at $28.11).
- Recent results and guidance: RingCentral reported $1.13 EPS and $638.66M revenue (both above expectations) and set FY2025 EPS guidance of $4.29–4.33 and Q4 guidance of $1.12–1.15.
- Market view: The stock has a market cap of $2.56B and a consensus analyst rating of "Hold" with an average target of $31.54 (4 Buys, 10 Holds, 1 Sell).
Ringcentral, Inc. (NYSE:RNG - Get Free Report) COO Kira Makagon sold 6,495 shares of Ringcentral stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $29.22, for a total transaction of $189,783.90. Following the completion of the sale, the chief operating officer directly owned 336,162 shares in the company, valued at $9,822,653.64. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Kira Makagon also recently made the following trade(s):
- On Wednesday, November 26th, Kira Makagon sold 14,798 shares of Ringcentral stock. The shares were sold at an average price of $28.11, for a total value of $415,971.78.
Ringcentral Price Performance
NYSE:RNG opened at $29.55 on Tuesday. The company has a market capitalization of $2.56 billion, a P/E ratio of 211.05, a P/E/G ratio of 1.52 and a beta of 1.29. The business has a fifty day simple moving average of $28.76 and a two-hundred day simple moving average of $28.67. Ringcentral, Inc. has a 1 year low of $20.58 and a 1 year high of $37.23.
Ringcentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The software maker reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.05. Ringcentral had a negative return on equity of 22.38% and a net margin of 0.53%.The firm had revenue of $638.66 million for the quarter, compared to analysts' expectations of $635.39 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS and its Q4 2025 guidance at 1.120-1.150 EPS. As a group, analysts anticipate that Ringcentral, Inc. will post 1.29 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently commented on RNG. Needham & Company LLC restated a "buy" rating and set a $36.00 price target on shares of Ringcentral in a research note on Tuesday, November 4th. Morgan Stanley boosted their target price on shares of Ringcentral from $29.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday, November 4th. Wells Fargo & Company started coverage on Ringcentral in a research report on Tuesday, September 30th. They set an "equal weight" rating and a $32.00 target price on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Ringcentral in a research report on Monday, December 22nd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $32.00 price objective on shares of Ringcentral in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ringcentral has a consensus rating of "Hold" and an average target price of $31.54.
Get Our Latest Stock Report on RNG
Institutional Investors Weigh In On Ringcentral
A number of institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in Ringcentral by 21.7% during the third quarter. IFP Advisors Inc now owns 3,389 shares of the software maker's stock valued at $96,000 after buying an additional 605 shares during the period. Centaurus Financial Inc. boosted its position in shares of Ringcentral by 33.2% during the 3rd quarter. Centaurus Financial Inc. now owns 9,896 shares of the software maker's stock valued at $280,000 after acquiring an additional 2,464 shares during the last quarter. Danske Bank A S bought a new stake in shares of Ringcentral during the 3rd quarter valued at about $686,000. Dark Forest Capital Management LP grew its holdings in shares of Ringcentral by 179.0% during the third quarter. Dark Forest Capital Management LP now owns 69,222 shares of the software maker's stock worth $1,962,000 after purchasing an additional 44,410 shares in the last quarter. Finally, PharVision Advisers LLC bought a new position in shares of Ringcentral in the third quarter worth approximately $389,000. Hedge funds and other institutional investors own 98.61% of the company's stock.
About Ringcentral
(
Get Free Report)
RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company's flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.
Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.
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