RingCentral (NYSE:RNG – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.920-0.930 for the period, compared to the consensus estimate of 0.910. The company issued revenue guidance of $600.5 million-$603.5 million, compared to the consensus revenue estimate of $601.1 million. RingCentral also updated its FY 2024 guidance to 3.620-3.670 EPS.
RingCentral Stock Up 5.4 %
Shares of RNG stock traded up $1.81 during midday trading on Friday, reaching $35.26. 3,145,964 shares of the stock were exchanged, compared to its average volume of 1,131,608. RingCentral has a 1 year low of $25.08 and a 1 year high of $39.86. The company’s 50 day moving average is $31.30 and its two-hundred day moving average is $32.66.
RingCentral (NYSE:RNG – Get Free Report) last announced its earnings results on Tuesday, May 7th. The software maker reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $584.21 million for the quarter, compared to the consensus estimate of $577.81 million. As a group, analysts forecast that RingCentral will post 0.54 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Get Our Latest Research Report on RingCentral
Insider Activity at RingCentral
In other news, CFO Vaibhav Agarwal sold 11,406 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $36.01, for a total value of $410,730.06. Following the completion of the sale, the chief financial officer now directly owns 158,784 shares in the company, valued at $5,717,811.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other RingCentral news, CFO Vaibhav Agarwal sold 11,406 shares of RingCentral stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $36.01, for a total value of $410,730.06. Following the completion of the transaction, the chief financial officer now directly owns 158,784 shares of the company’s stock, valued at approximately $5,717,811.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sonalee Elizabeth Parekh sold 8,478 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $34.85, for a total transaction of $295,458.30. Following the sale, the chief financial officer now directly owns 388,919 shares in the company, valued at approximately $13,553,827.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,869 shares of company stock valued at $762,165. 6.76% of the stock is owned by corporate insiders.
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.
Featured Articles
- Five stocks we like better than RingCentral
- How Technical Indicators Can Help You Find Oversold Stocks
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
- Bank Stocks – Best Bank Stocks to Invest In
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- The 3 Best Blue-Chip Stocks to Buy Now
- MarketBeat Week in Review – 7/29 – 8/2
Receive News & Ratings for RingCentral Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RingCentral and related companies with MarketBeat.com's FREE daily email newsletter.