RingCentral (RNG) Set to Announce Quarterly Earnings on Thursday

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

RingCentral Trading Down 0.8 %

RNG stock opened at $36.16 on Tuesday. RingCentral has a 1 year low of $26.23 and a 1 year high of $38.35. The company has a 50 day simple moving average of $31.76 and a 200 day simple moving average of $32.00.

Insider Buying and Selling

In related news, CFO Vaibhav Agarwal sold 1,985 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.40, for a total transaction of $62,329.00. Following the transaction, the chief financial officer now directly owns 135,560 shares of the company’s stock, valued at $4,256,584. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Vaibhav Agarwal sold 1,985 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.40, for a total transaction of $62,329.00. Following the transaction, the chief financial officer now directly owns 135,560 shares of the company’s stock, valued at $4,256,584. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John H. Marlow sold 19,498 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.52, for a total transaction of $634,074.96. Following the transaction, the chief accounting officer now directly owns 391,542 shares in the company, valued at approximately $12,732,945.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,824 shares of company stock valued at $3,386,396 over the last ninety days. 6.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RNG shares. Rosenblatt Securities reissued a “buy” rating and set a $45.00 target price on shares of RingCentral in a report on Friday. Robert W. Baird boosted their target price on shares of RingCentral from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Northland Securities boosted their target price on shares of RingCentral from $43.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wedbush raised shares of RingCentral to a “hold” rating in a report on Thursday, October 17th. Finally, Piper Sandler reduced their target price on shares of RingCentral from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, RingCentral has an average rating of “Moderate Buy” and an average 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.