RingCentral (NYSE:RNG) Releases Quarterly Earnings Results, Misses Expectations By $0.73 EPS

RingCentral (NYSE:RNG) issued its quarterly earnings data on Thursday. The software maker reported $0.23 EPS for the quarter, missing the consensus estimate 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 Price Performance

NYSE:RNG opened at $30.78 on Friday. The business has a fifty day simple moving average of $35.02 and a two-hundred day simple moving average of $34.29. RingCentral has a 1 year low of $26.98 and a 1 year high of $42.19.

Analyst Upgrades and Downgrades

RNG has been the subject of several analyst reports. Raymond James reissued an “outperform” rating and issued a $45.00 price objective (down from $50.00) on shares of RingCentral in a research note on Friday, January 3rd. StockNews.com raised RingCentral from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wedbush increased their price target on RingCentral from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $30.00 price target (down from $38.00) on shares of RingCentral in a research report on Tuesday, January 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price target on shares of RingCentral in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.60.

Insiders Place Their Bets

In other news, SVP John H. Marlow sold 8,720 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $42.05, for a total value of $366,676.00. Following the completion of the transaction, the senior vice president now directly owns 334,869 shares of the company’s stock, valued at $14,081,241.45. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ned D. Segal sold 2,914 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was 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 directly owns 10,633 shares of the company’s stock, 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. Insiders sold 13,091 shares of company stock valued at $542,958 over the last ninety days. 6.97% of the stock is currently owned by insiders.

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.