RingCentral (RNG) Set to Announce Quarterly Earnings on Thursday

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

RingCentral Trading Down 0.8 %

RNG opened at $36.16 on Tuesday. The firm’s fifty day moving average is $31.76 and its two-hundred day moving average is $32.00. RingCentral has a twelve month low of $26.23 and a twelve month high of $38.35.

Insider Buying and Selling at RingCentral

In other RingCentral news, CAO John H. Marlow sold 19,498 shares of RingCentral stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.52, for a total value of $634,074.96. Following the sale, the chief accounting officer now directly owns 391,542 shares in the company, valued at approximately $12,732,945.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO John H. Marlow sold 19,498 shares of RingCentral stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.52, for a total value of $634,074.96. Following the completion of the transaction, the chief accounting officer now owns 391,542 shares of the company’s stock, valued at $12,732,945.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Agarwal sold 10,184 shares of RingCentral stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.88, for a total transaction of $334,849.92. Following the completion of the transaction, the chief financial officer now directly owns 137,545 shares of the company’s stock, valued at approximately $4,522,479.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,824 shares of company stock worth $3,386,396. Insiders own 6.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RNG shares. Wells Fargo & Company increased their target price on shares of RingCentral from $28.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. StockNews.com lowered shares of RingCentral from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 19th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of RingCentral in a report on Monday, August 5th. Robert W. Baird raised their price objective on shares of RingCentral from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of RingCentral in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.