Analysts expect RingCentral Inc (NYSE:RNG) to report $221.47 million in sales for the current quarter, according to Zacks. Eleven analysts have issued estimates for RingCentral’s earnings, with the lowest sales estimate coming in at $220.70 million and the highest estimate coming in at $224.00 million. RingCentral posted sales of $173.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.4%. The business is scheduled to announce its next earnings report on Monday, November 4th.
On average, analysts expect that RingCentral will report full-year sales of $875.42 million for the current year, with estimates ranging from $874.04 million to $877.40 million. For the next fiscal year, analysts anticipate that the company will post sales of $1.08 billion, with estimates ranging from $1.06 billion to $1.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover RingCentral.
RingCentral (NYSE:RNG) last released its earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.13. The business had revenue of $215.20 million for the quarter, compared to analyst estimates of $204.70 million. RingCentral had a negative net margin of 3.95% and a negative return on equity of 1.16%. RingCentral’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share.
In other RingCentral news, CEO Vladimir Shmunis sold 51,923 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $120.87, for a total transaction of $6,275,933.01. Following the transaction, the chief executive officer now owns 325,018 shares of the company’s stock, valued at approximately $39,284,925.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Praful Shah sold 5,016 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $115.33, for a total value of $578,495.28. Following the transaction, the insider now directly owns 257,763 shares in the company, valued at approximately $29,727,806.79. The disclosure for this sale can be found here. Insiders sold a total of 345,041 shares of company stock worth $42,137,188 over the last three months. 11.03% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of RNG. Cambridge Investment Research Advisors Inc. increased its position in shares of RingCentral by 76.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,757 shares of the software maker’s stock valued at $547,000 after buying an additional 2,063 shares in the last quarter. Bamco Inc. NY increased its position in shares of RingCentral by 8.4% in the 2nd quarter. Bamco Inc. NY now owns 103,302 shares of the software maker’s stock valued at $11,871,000 after buying an additional 7,987 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of RingCentral by 138.0% in the 2nd quarter. Voloridge Investment Management LLC now owns 42,263 shares of the software maker’s stock valued at $4,857,000 after buying an additional 24,506 shares in the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of RingCentral in the 2nd quarter valued at $26,135,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of RingCentral in the 2nd quarter valued at $94,704,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
RNG traded up $1.13 during trading on Thursday, reaching $139.20. 479,427 shares of the stock traded hands, compared to its average volume of 798,865. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of -3,480.00 and a beta of 0.79. RingCentral has a fifty-two week low of $64.41 and a fifty-two week high of $146.38. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.08 and a quick ratio of 3.08. The stock’s 50-day simple moving average is $127.02 and its two-hundred day simple moving average is $114.85.
RingCentral Company Profile
RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.
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