RingCentral (NYSE:RNG) Posts Earnings Results, Misses Estimates By $0.73 EPS

RingCentral (NYSE:RNG) released its quarterly earnings data on Thursday. The software maker reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.73), Zacks reports. RingCentral had a negative net margin of 2.43% and a negative return on equity of 12.34%. The business had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $612.37 million. RingCentral updated its FY 2025 guidance to 4.130-4.270 EPS and its Q1 2025 guidance to 0.930-0.970 EPS.

RingCentral Trading Down 6.1 %

Shares of RNG stock opened at $28.90 on Friday. The business’s 50 day moving average is $34.82 and its two-hundred day moving average is $34.25. RingCentral has a twelve month low of $26.98 and a twelve month high of $42.19.

Insider Buying and Selling at RingCentral

In other news, Director Ned D. Segal sold 2,914 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 10,633 shares of the company’s stock, valued at $442,332.80. This trade represents a 21.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert I. Theis sold 1,457 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.79, for a total value of $55,060.03. Following the completion of the sale, the director now directly owns 28,690 shares of the company’s stock, valued at $1,084,195.10. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,091 shares of company stock worth $542,958. 6.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays dropped their price objective on RingCentral from $37.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday. Wells Fargo & Company restated an “underweight” rating and set a $30.00 price target (down previously from $38.00) on shares of RingCentral in a research note on Tuesday, January 7th. UBS Group dropped their price target on RingCentral from $40.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com upgraded RingCentral from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Robert W. Baird raised their price target on RingCentral from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.15.

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.