RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers. The company's products also comprise RingCentral Engage Voice, a cloud-based outbound/blended customer engagement platform for midsize and enterprise companies; RingCentral Glip, a team messaging and collaboration solution that allows a range of teams to stay connected through various modes of communication through an integration with RingCentral Office; and RingCentral Live Reports, an add-on for RingCentral Office customers to gather real-time information. In addition, it offers RingCentral Professional, a cloud based virtual telephone service that provides inbound call answering and management services for professionals; and RingCentral Fax that provides online fax capabilities. The company serves a range of industries, including financial services, education, healthcare, legal services, real estate, retail, technology, insurance, construction, hospitality, and state and local government, as well as others. It sells its products through a network of direct sales representatives, as well as sales agents, resellers, and channel partners. RingCentral, Inc. has strategic partnerships with Alcatel-Lucent Enterprise; and Vodafone Business. The company was incorporated in 1999 and is headquartered in Belmont, California.
IPO Year: 2013
Exchange: NYSE
Website: ringcentral.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/2/2024 | $45.00 | Neutral → Buy | Rosenblatt |
| 12/20/2023 | $36.00 | Overweight → Equal Weight | Wells Fargo |
| 12/12/2023 | $40.00 → $35.00 | Buy → Hold | Jefferies |
| 10/23/2023 | $52.00 → $35.00 | Buy → Neutral | Rosenblatt |
| 8/8/2023 | Overweight → Equal-Weight | Morgan Stanley | |
| 8/8/2023 | $38.00 | Buy → Hold | Craig Hallum |
| 5/26/2023 | $42.00 | Hold → Buy | Needham |
| 5/11/2023 | $52.00 → $37.00 | Buy → Neutral | Goldman |
| 5/11/2023 | $40.00 → $45.00 | Neutral → Outperform | Credit Suisse |
| 3/24/2023 | $35.00 | Buy | Rosenblatt |
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Q3 2024 revenue above high end of guidance Achieves GAAP operating profitability in Q3 2024 Raising 2024 revenue, net cash provided by operating activities and free cash flow outlook RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced financial results for the third quarter ended September 30, 2024. Third Quarter Financial Highlights Total revenue increased 9% year-over-year to $609 million. Subscriptions revenue increased 10% year-over-year to $583 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.48 billion. Enterprise ARR increased 11% year-over-y
RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced that it will report financial results for the third quarter ended September 30, 2024 after market close on November 7, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on November 14, 2024, a
Q2 2024 key metrics above high end of guidance Achieves record net cash provided by operating activities and record free cash flow Raising 2024 revenue outlook RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced financial results for the second quarter ended June 30, 2024. Second Quarter Financial Highlights Total revenue increased 10% year-over-year to $593 million. Subscriptions revenue increased 10% year-over-year to $567 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.43 billion. Mid-market and Enterprise ARR inc
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced that it will report financial results for the second quarter ended June 30, 2024 after market close on August 1, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on Au
Q1 2024 key metrics above high end of guidance Raising 2024 revenue outlook Share repurchase authorization increased by $250 million RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced financial results for the first quarter ended March 31, 2024. First Quarter Financial Highlights Total revenue increased 9% year-over-year to $584 million. Subscriptions revenue increased 10% year-over-year to $557 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 10% year over year to $2.37 billion. Mid-market and Enterprise ARR increased 11% year over year to
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced that it will report financial results for the first quarter ended March 31, 2024 after market close on May 7, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-844-274-3686 from the United States or 1-412-317-5645 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on May 1
Total ARR up 11% to $2.33 billion Enterprise ARR up 13% to over $1 billion Record quarterly net cash provided by operating activities of $114 million RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter Financial Highlights Total revenue increased 9% year over year to $571 million Subscriptions revenue increased 9% year over year to $547 million Annualized Exit Monthly Recurring Subscriptions (ARR) increased 11% year over year to $2.329 billion Mid-market and Enterprise ARR i
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-first global enterprise cloud communications, video, webinars, hybrid events, and contact center solutions, today announced that it will report financial results for the fourth quarter ended December 31, 2023 after market close on Tuesday, February 20, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call
Q3 2023 revenue above high end of guidance Q3 2023 GAAP and non-GAAP operating margin up strongly Raising midpoint of 2023 revenue outlook RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the third quarter ended September 30, 2023. Third Quarter Financial Highlights Total revenue increased 10% year over year to $558 million. Subscriptions revenue increased 10% year over year to $531 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 11% year over year to $2.26 billion. Mid-market and Enterprise ARR
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that it will report financial results for the third quarter ended September 30, 2023 after market close on Monday, November 6, 2023. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call t
Piper Sandler analyst James Fish maintains RingCentral (NYSE:RNG) with a Neutral and lowers the price target from $32 to $31.
Wells Fargo analyst Michael Turrin maintains RingCentral (NYSE:RNG) with a Equal-Weight and lowers the price target from $33 to $28.
Needham analyst Ryan Koontz reiterates RingCentral (NYSE:RNG) with a Buy and maintains $42 price target.
Vodafone Business Ireland and RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions, today announced the launch of Vodafone Business UC with RingCentral to organizations of all sizes in Ireland. Already accessible in Italy, Spain, Portugal, Germany, and the United Kingdom, this solution enables businesses to facilitate seamless communication and collaboration for their workforces from virtually any device, anywhere, at any time. With this offering, Vodafone Business Ireland and RingCentral are empowering businesses to embrace the evolving landscape of hybrid work.
New Hybrid Solution Empowers Customers to Combine Existing Avaya Investments with Enhanced Collaboration Capabilities from RingCentralRingCentral Enhances Avaya Cloud Office with RingSense AI and Microsoft Teams IntegrationToday at Avaya ENGAGE, RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, and Avaya, a global leader in customer experience and communications solutions, announced an expansion of offerings for Avaya customers, including a new hybrid solution of RingCentral's AI-powered cloud business communications solution with Avaya Aura telephony, providing enhanced collaboration capabilities.
Deutsche Bank analyst Matthew Niknam maintains RingCentral (NYSE:RNG) with a Buy and raises the price target from $38 to $42.
Wedbush analyst Taz Koujalgi reiterates RingCentral (NYSE:RNG) with a Neutral and maintains $40 price target.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Baird raised the price target for RingCentral, Inc. (NYSE:RNG) from $32 to $35. Baird analyst William Power maintained a Neutral rating. RingCentral shares surged 14.6% to close at $34.38 on Wednesday. See how other analysts view this stock. Piper Sandler boosted the price target for Robinhood Markets, Inc. (NASDAQ:HOOD) from $17 to $18. Piper Sandler analyst Patrick Moley maintained a Neutral rating. Robinhood shares fell 0.8% to close at $17.85 on Wednesday. See how other analysts view this stock
Baird analyst William Power maintains RingCentral (NYSE:RNG) with a Neutral and raises the price target from $32 to $35.
Rosenblatt upgraded RingCentral from Neutral to Buy and set a new price target of $45.00
Wells Fargo downgraded RingCentral from Overweight to Equal Weight and set a new price target of $36.00
Jefferies downgraded RingCentral from Buy to Hold and set a new price target of $35.00 from $40.00 previously
Rosenblatt downgraded RingCentral from Buy to Neutral and set a new price target of $35.00 from $52.00 previously
Morgan Stanley downgraded RingCentral from Overweight to Equal-Weight
Craig Hallum downgraded RingCentral from Buy to Hold and set a new price target of $38.00
Needham upgraded RingCentral from Hold to Buy and set a new price target of $42.00
Goldman downgraded RingCentral from Buy to Neutral and set a new price target of $37.00 from $52.00 previously
Credit Suisse upgraded RingCentral from Neutral to Outperform and set a new price target of $45.00 from $40.00 previously
Rosenblatt initiated coverage of RingCentral with a rating of Buy and set a new price target of $35.00
RingCentral, Inc. (NYSE:RNG), a leading global provider of trusted AI communications for businesses of all sizes, today announced that members of its management team are scheduled to present at the following investor conferences: UBS Global Technology and AI Conference Date: Tuesday, December 3, 2024 Time: 10:15 a.m. MT (12:15 p.m. ET) Barclays 22nd Annual Global Technology Conference Date: Wednesday, December 11, 2024 Time: 10:25 a.m. PT (1:25 p.m. ET) A live webcast will be accessible on the Company's investor relations website at ir.ringcentral.com. About RingCentral RingCentral is a leading provider of trusted AI communications, contact center, sales intelligence, video and hy
RingCentral, Inc. (NYSE:RNG), a leading global provider of trusted AI communications for businesses of all sizes, today announced that Abhey Lamba has been appointed Chief Financial Officer and will join in his new role in the coming weeks. Lamba will be responsible for all the Company's financial functions, including financial planning, controllership, tax, treasury, corporate development and investor relations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241107140330/en/Abhey Lamba, courtesy of RingCentral A seasoned finance and technology leader with more than 30 years of experience, Lamba joins RingCentral from Amazon Web
RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, and Verint® (NASDAQ:VRNT), a leader in CX automation, today announced a strategic partnership to provide RingCX™ customers access to best-in-class workforce engagement management (WEM) and CX automation. Through this partnership, RingCX customers will have more choice and be able to leverage Verint's leading WEM and CX automation solutions, which complement RingCentral's native AI capabilities, to enhance employee productivity and improve customer experiences, ultimately driving competitive advantage and operational efficiency. This press release features multimedia. View
Q3 2024 revenue above high end of guidance Achieves GAAP operating profitability in Q3 2024 Raising 2024 revenue, net cash provided by operating activities and free cash flow outlook RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced financial results for the third quarter ended September 30, 2024. Third Quarter Financial Highlights Total revenue increased 9% year-over-year to $609 million. Subscriptions revenue increased 10% year-over-year to $583 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.48 billion. Enterprise ARR increased 11% year-over-y
Customers see significant improvements in daily operations with trusted, multi-modal RingCentral AI Assistant RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced its AI Assistant, powered by RingCentral AI, is now included in RingEX™ at no additional cost. RingCentral AI Assistant automatically generates detailed, real-time notes for phone calls; helps write, polish, and translate texts and chats; and summarizes meetings with crisp action items, reducing employees' daily mundane work to free up their time for more critical, strategic work. This press release features multimedia. View the full release here:
RingCentral ranks #1 in three out of the six product or service use case categories in Gartner Critical Capabilities for UCaaS report RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced that Gartner has recognized RingCentral as a Leader in the 2024 Magic Quadrant for Unified Communications as a Service (UCaaS) report, making this RingCentral's tenth year in a row being named in the Leaders quadrant. "The enterprise communications landscape is undergoing a seismic shift, driven by groundbreaking AI innovations that are redefining capabilities across industries and roles, from healthcare to retail to custom
RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced that it will report financial results for the third quarter ended September 30, 2024 after market close on November 7, 2024. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on November 14, 2024, a
Elizabeth Rafael stepping down to continue focus on CFO responsibilities at a public company Informatica (NYSE:INFA), a leader in enterprise AI-powered cloud data management, today announced the appointment of Mitesh Dhruv, a seasoned financial executive with close to 25 years of experience advising technology companies, to its Board of Directors and as Chair of the Audit Committee. Dhruv was an executive at RingCentral, Inc. (NYSE:RNG), a cloud-based communications and collaboration solutions provider, from 2012 to 2021. Dhruv played a critical role in accelerating RingCentral's cloud growth and enhancing the company's financial performance, serving as Chief Financial Officer from 2017 to
Fully compliant UCaaS solution, Global RingEX Select™, backed by certifications from DoT & TRAI, now available across India via new PAN-India license RingCX™ native contact center brings robust omnichannel and AI-powered capabilities to agents/supervisors for enhanced customer experiences RingCentral Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced it has received the PAN-India license from the Department of Telecommunications (DoT) to operate across all 22 telecommunications circles in India. As the first cloud provider to deliver fully-compliant Unified Communications as a Service (UCaaS) and Contact Center as a S
Zayo to integrate RingCentral's RingEX and RingCX solutions as part of its new Zayo UC+ offering Zayo, a leading communications infrastructure provider, and RingCentral, Inc. (NYSE:RNG), a leading global provider of trusted AI communications for businesses of all sizes, today announced a strategic relationship to launch a new offering, Zayo UC+ with RingCentral. Designed to boost workforce productivity and elevate customer experiences, the solution enables enterprises with secure, AI-powered cloud communications and contact center capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240909055153/en/ The latest addition t
RingCentral, Inc. (NYSE:RNG), a leading global provider of trusted AI communications for businesses of all sizes, today announced that Abhey Lamba has been appointed Chief Financial Officer and will join in his new role in the coming weeks. Lamba will be responsible for all the Company's financial functions, including financial planning, controllership, tax, treasury, corporate development and investor relations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241107140330/en/Abhey Lamba, courtesy of RingCentral A seasoned finance and technology leader with more than 30 years of experience, Lamba joins RingCentral from Amazon Web
RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced that Prat Bhatt has been appointed to the Company's Board of Directors, effective March 1, 2024. Bhatt has been named a member of the Board's audit committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240220097878/en/Photo of Prat Bhatt, courtesy of RingCentral Bhatt is an accomplished technology industry veteran and financial expert, having previously served as Chief Accounting Officer of Cisco Systems. In his more than 20 years at Cisco, Bhatt was instrumental in sc
Linking people, culture, and strategy to drive business value RingCentral, Inc. (NYSE:RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that Bobbie Grafeld has been appointed as Chief Human Resources Officer. Reporting to Mo Katibeh, President and Chief Operating Officer, Grafeld will be responsible for developing and executing human resources strategy in support of the company's overall strategic priorities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230613536735/en/Bobbie Grafeld, courtesy of RingCentral "We are deli
WWE® (NYSE:WWE) today announced that Michelle McKenna and JoEllen Lyons Dillon have been elected to its Board of Directors. McKenna spent more than two decades as a senior leader at Disney, Universal Studios and the NFL, working across technology, digital strategy and finance. From 2012 to 2022, McKenna served as Chief Information Officer for the NFL, where she was responsible for the league's technology strategy and served as the executive sponsor of the Women's Interactive Group. She serves on the Board of Directors of Ring Central (NYSE:RNG), where she is a member of the audit, compensation and nominating & governance committees. McKenna previously served on the Board of Directors of In
Mo Katibeh appointed as President and Chief Operating Officer RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced that Sonalee Parekh has been appointed as RingCentral's Chief Financial Officer and will join the Company in her new role by May 31, 2022. Parekh will be responsible for all the company's financial functions, including financial planning, controllership, tax, treasury, corporate development and investor relations. The company also announced that Mo Katibeh, Chief Operating Officer, has been appointed as President of RingCentral, effective immediately. This press
BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today appointed former U.S. Secretary of Education, Arne Duncan to the company’s board of directors. “Over the past year we have learned the importance of being able to communicate effectively from wherever we are,” said Secretary Duncan. “RingCentral’s vision of enabling people to learn and work from anywhere presents some intriguing opportunities for us all to rethink how this next generation of communications technologies will empower us as individuals, families, businesses and our communities
BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions today announced that industry security veteran, Heather Hinton has joined RingCentral as the company’s Chief Information Security Officer (CISO). Hinton joins RingCentral from IBM, where she spent 13 years in various leadership positions, most recently as vice president and IBM distinguished engineer, and CISO for the company’s Cloud and Cognitive Software business unit. Hinton brings more than 30 years of experience in Information Technology (IT) and cyber security expertise to RingCentral. Over
BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced that Matthew Bishop has been appointed as Chief Digital Officer. Bishop will be responsible for ensuring that RingCentral has the very best digital strategy, real time actionable insights and processes to support the growing operational needs of its global business. “We’re entering a new era of working from anywhere. Just as our customers transform, we must be ready to think differently and evolve as our business grows,” said Anand Eswaran, president and chief operating officer at RingCentral. “