Does Earnings Surprise History Hold Any Clue for RingCentral (NYSE:RNG)

Earnings results for RingCentral (NYSE:RNG)

Ringcentral, Inc. is expected* to report earnings on 05/04/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 11 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.34. The reported EPS for the same quarter last year was $-0.2.

RingCentral last posted its earnings data on February 16th, 2021. The software maker reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.47. The business earned $334.54 million during the quarter, compared to the consensus estimate of $316.92 million. RingCentral has generated ($0.19) earnings per share over the last year. RingCentral has confirmed that its next quarterly earnings report will be published on Tuesday, May 4th, 2021. RingCentral will be holding an earnings conference call on Tuesday, May 4th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on RingCentral (NYSE:RNG)

21 Wall Street analysts have issued ratings and price targets for RingCentral in the last 12 months. Their average twelve-month price target is $439.73, predicting that the stock has a possible upside of 37.87%. The high price target for RNG is $535.00 and the low price target for RNG is $275.00. There are currently 1 hold rating, 19 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”

RingCentral has received a consensus rating of Buy. The company’s average rating score is 3.00, and is based on 19 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $439.73, RingCentral has a forecasted upside of 37.9% from its current price of $318.95. RingCentral has been the subject of 12 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: RingCentral (NYSE:RNG)

RingCentral does not currently pay a dividend. RingCentral does not have a long track record of dividend growth.

Insiders buying/selling: RingCentral (NYSE:RNG)

In the past three months, RingCentral insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $19,901,042.00 in company stock. Only 11.03% of the stock of RingCentral is held by insiders. 86.30% of the stock of RingCentral is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of RingCentral (NYSE:RNG

Earnings for RingCentral are expected to decrease in the coming year, from ($0.63) to ($0.84) per share. The P/E ratio of RingCentral is -259.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of RingCentral is -259.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. RingCentral has a P/B Ratio of 37.17. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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