RingCentral (RNG)

• Market cap: $2.61B
• 1 day: -5.91%
• 5 days: -17.69%
• 1 month: -15.52%
• 3 months: -16.98%
• 6 months: -12.17%
• Year to date: -16.88%
• 1 year: -8.47%
• 5 years: -87.73%
• 10 years: 84.75%
• Sector: Information Technology
• Industry: Computer Processing & Data Preparation

About: RingCentral is a unified communications as a service, or UCaaS, provider. Its software helps users communicate and collaborate via voice, video, and messaging across all device types and all from one platform. RingCentral helps customers modernize and move from legacy on-premises systems to modern, cloud-based systems. Beyond its core RingCentral MVP solution, RingCentral also offers a cloud-based contact center solution, a stand-alone video meetings solution, and webinars.

Employees: 4,084

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

77% more first-time investments, than exits

New positions opened: 62 | Existing positions closed: 35

40% more call options, than puts

Call options by funds: $44.8M | Put options by funds: $32.1M

16% more repeat investments, than reductions

Existing positions increased: 104 | Existing positions reduced: 90

6% more capital invested

Capital invested by funds: $2.47B [Q3] → $2.61B (+$140M) [Q4]

5% more funds holding

Funds holding: 279 [Q3] → 294 (+15) [Q4]

2.22% less ownership

Funds ownership: 95.43% [Q3] → 93.21% (-2.22%) [Q4]

100% less funds holding in top 10

Funds holding in top 10: 1 [Q3] → 0 (-1) [Q4]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $30 4% upside
• Avg. target: $36 24% upside
• High target: $40 38% upside

9 analyst ratings

• positive: 3 33%
• neutral: 5 56%
• negative: 1 11%

UBS Taylor McGinnis 67% 1-year accuracy 8 / 12 met price target	31% upside $38	Neutral Maintained	21 Feb 2025
Raymond James Brian Peterson 48% 1-year accuracy 12 / 25 met price target	38% upside $40	Outperform Maintained	21 Feb 2025
Piper Sandler James Fish 79% 1-year accuracy 19 / 24 met price target	7% upside $31	Neutral Maintained	21 Feb 2025
Needham Ryan Koontz 64% 1-year accuracy 69 / 107 met price target	24% upside $36	Buy Maintained	21 Feb 2025
Rosenblatt Catharine Trebnick 83% 1-year accuracy 53 / 64 met price target	38% upside $40	Buy Maintained	21 Feb 2025