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RNG $35.04

RNG target price
35.04
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RingCentral, Inc.
Traded as NYSE: RNG
Industry Cloud computing based business phone systems
Founded 1999
Headquarters 20 Davis Drive
Belmont, California 94002
Key people
Vlad Shmunis, CEO
Products RingCentral Office
RingCentral Mobile
RingCentral Fax
Number of employees
2,500
Website www.ringcentral.com

RingCentral (NYSE: RNG) is a publicly traded provider of cloud-based communications and collaboration solutions for businesses. It is headquartered in Belmont, California and has offices in Denver, Colorado; Charlotte, NC; Toronto, Canada; Singapore; Manila, Philippines; Xiamen, China; St. Petersburg, Russia; Boca Raton, Florida and Odessa, Ukraine. Based on a report published on June 14, 2017 by Synergy Research Group, an independent market research firm, RingCentral was recognized as the #1 worldwide market share leader in both revenue and subscriber seats for Unified Communications as a Service (UCaaS).

RingCentral CEO Vlad Shmunis founded the company in 1999. RingCentral investors included Doug Leone, Sequoia Capital, David Weiden, Khosla Ventures, Rob Theis, Scale Venture Partners, Bobby Yerramilli-Rao, Hermes Growth Partners and DAG Ventures. It completed its IPO in 2013.

RingCentral was bootstrapped until it received its first round of venture capital investment in 2006. In 2011, RingCentral added Cisco and Silicon Valley Bank as investors and had, to date, secured a total of $45 million in capital investment.

On September 27, 2013, RingCentral completed its IPO. The company completed a follow-on offering in March 2014 worth 7.5 million.

RingCentral's flagship product is RingCentral Office. The company also offers RingCentral Professional, and RingCentral Fax.

RingCentral provides a cloud-based business phone system. It offers PBX features such as multiple extensions; call control; Outlook, Salesforce, Google Docs, DropBox and Box integration; SMS; video conferencing and web conferencing; fax; auto-receptionist; call logs; and rule-based call routing and answering. Customers do not require capital investment or maintenance contracts, which lowers customer costs and – as with most cloud-based technologies -- "potentially disrupts" traditional on-premises PBX providers.

RingCentral Office is a cloud-based PBX system for businesses. RingCentral Office features include call auto-attendant, company directory, call forwarding and handling, multiple extensions, a mobile app for iPhone and Android, Business SMS, video conferencing and screen-sharing, and fax.

RingCentral Professional is a suite that provides a universal telephone number, voice mail, dial-by-name directory, call-forwarding, and other features through a smartphone app on iPhone and Android devices.

RingCentral Fax allows users to send and receive faxes through the Internet without a fax machine. The service integrates with Dropbox, Box, and Google Docs.

In June 2015, RingCentral acquired Glip. Glip is a persistent workstream collaboration platform which adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform. Glip was acquired by RingCentral for an undisclosed amount.

RingCentral was identified as one of Forbes’ 100 Most Trustworthy Companies in America for 2016 and 2017. In 2016, RingCentral was selected to Deloitte’s Technology Fast 500 for the third consecutive year. The Deloitte Technology Fast 500 is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America.

For its strong overall performance, RingCentral earned Frost & Sullivan’s 2016 Company of the Year Award. The company is recognized as a 2017 PC Magazine Editor’s Choice. According to PC Magazine, RingCentral is extremely versatile and can be configured to fit practically any kind of business.

RingCentral earned TMC’s 2017 WebRTC Product of the Year Award. This award honors solutions that support browser-to-browser applications for voice calling, video chat, and P2P file sharing without the need of either internal or external plug-ins. It has also been recognized in TMC’s 2017 Unified Communications Product of the Year Award that honors the best, most innovative unified communications products and solutions released in the last twelve months.

In 2017, RingCentral was named to the Constellation Research’s Enterprise Group Messaging: Standalone and Enterprise Group Messaging: Unified Communication shortlists. Other 2017 awards include the TMC's 2016 Unified Communications Excellence Award and the Silver Stevie Award for Customer Service Department of the Year

Gartner positioned RingCentral as a leader in its "2016 Magic Quadrant for Unified Communications as a Service (UCaaS), Worldwide" as a result of its ability to execute and the completeness of vision. IHS Markit has identified RingCentral as a leader in its 2017 UCaaS Scorecard

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-07 Future report Set alerts
Q2 2022 2022-08-02 0.45 0.45
Q1 2022 2022-05-09 0.39 0.39
Q4 2021 2022-02-22 0.39 0.39
Q3 2021 2021-11-09 0.36 0.36
Q2 2021 2021-08-03 0.32 0.32
Q1 2021 2021-05-04 0.27 0.27
Q4 2020 2021-02-16 0.29 0.29
Q3 2020 2020-11-09 0.00 0.00
Q2 2020 2020-08-03 0.24 0.01

Ratings

2016-07-07 Initiated Coverage Craig Hallum Buy $25.00
2016-06-29 Reiterated Rating Summit Redstone Buy $24.00
2016-06-28 Initiated Coverage Summit Research Buy
2016-05-29 Reiterated Rating Jefferies Group Buy
2016-05-18 Initiated Coverage Stephens Overweight
2016-04-28 Reiterated Rating Jefferies Group Buy $27.00
2016-04-28 Reiterated Rating Oppenheimer Buy
2016-04-28 Reiterated Rating Oppenheimer Holdings Inc. Buy
2016-03-11 Reiterated Rating Jefferies Group Buy
2016-02-08 Reiterated Rating Jefferies Buy $25.00 to $27.00
2016-02-08 Reiterated Rating Oppenheimer Outperform $29.00
2016-02-08 Reiterated Rating Jefferies Group Buy $25.00 to $27.00
2016-02-05 Boost Price Target Jefferies Group Buy $25.00 to $27.00
2015-12-17 Downgrade Morgan Stanley Overweight to Equal Weight $25.00
2015-12-17 Upgrade Oppenheimer Buy
2015-12-16 Boost Price Target Oppenheimer Outperform $25.00 to $29.00
2015-12-09 Boost Price Target RBC Capital Outperform $26.00 to $27.00
2015-12-09 Boost Price Target Royal Bank Of Canada Outperform $26.00 to $27.00
2015-12-02 Boost Price Target RBC Capital Outperform $23.00 to $26.00
2015-11-03 Boost Price Target Raymond James Strong-Buy $27.00 to $28.00
2015-11-03 Boost Price Target Jefferies Group Buy $23.00 to $25.00
2015-11-03 Boost Price Target Oppenheimer Buy to Outperform $23.00 to $25.00
2015-11-03 Reiterated Rating Canaccord Genuity Buy $23.00 to $19.35
2015-11-03 Upgrade Summit Research Hold to Buy $25.00
2015-11-03 Boost Price Target Raymond James Financial Inc. Strong-Buy $27.00 to $28.00
2015-10-09 Reiterated Rating William Blair Buy
2015-10-06 Initiated Coverage RBC Capital Outperform $23.00
2015-08-24 Initiated Coverage Morgan Stanley Overweight to Overweight $25.00
2015-08-19 Boost Price Target Northland Securities Outperform $25.00 to $27.00
2015-08-10 Initiated Coverage Canaccord Genuity Buy $23.00
2015-08-02 Reiterated Rating Oppenheimer Buy
2015-07-31 Boost Price Target Oppenheimer Outperform $20.00 to $23.00
2015-07-31 Upgrade Raymond James Outperform to Strong-Buy $21.00 to $27.00
2015-07-23 Initiated Coverage JPMorgan Chase & Co. Overweight $27.00
2015-07-21 Boost Price Target Bank of America Buy $19.00 to $22.00
2015-07-21 Boost Price Target Bank of America Corp. Buy $19.00 to $22.00
2015-06-08 Reiterated Rating Northland Securities Outperform $25.00
2015-05-23 Reiterated Rating Jefferies Group Buy
2015-05-04 Reiterated Rating Jefferies Group Buy $20.00 to $22.00
2015-02-04 Set Price Target Oppenheimer Buy $20.00
2014-11-20 Initiated Coverage Jefferies Group Buy $20.00
2014-11-11 Initiated Coverage Macquarie Outperform $16.00
2014-10-09 Initiated Coverage Goldman Sachs Buy to Neutral $20.00 to $14.00
2014-10-09 Initiated Coverage Goldman Sachs Group Inc. Buy to Neutral $20.00 to $14.00
2014-08-06 Initiated Coverage Oppenheimer Outperform $20.00
2014-05-22 Lower Price Target Goldman Sachs $26.00 to $20.00
2014-04-30 Reiterated Rating Raymond James Outperform $19.00
2014-04-30 Lower Price Target Northland Securities Outperform $26.00 to $25.00
2014-03-27 Initiated Coverage Macquarie Outperform $24.00
2014-03-17 Initiated Coverage William Blair Outperform $10.00
2014-02-20 Initiated Coverage JPMorgan Chase & Co. Positive to Buy $22.00 to $25.00
2014-02-07 Boost Price Target Raymond James $22.50 to $24.00
2013-11-06 Reiterated Rating Northland Securities Outperform $20.00 to $22.00
2013-11-06 Reiterated Rating JPMorgan Chase & Co. Overweight $25.00
2013-10-22 Initiated Coverage Raymond James Outperform $22.00
2013-10-22 Initiated Coverage Bank of America Buy $22.00
2013-10-22 Initiated Coverage Goldman Sachs Buy
2013-10-22 Initiated Coverage JPMorgan Chase & Co. Overweight $25.00
2013-10-04 Initiated Coverage Northland Securities Outperform $20.00
2016-07-07 Initiated Coverage Craig Hallum Buy $25.00
2016-06-29 Reiterated Rating Summit Redstone Buy $24.00
2016-06-28 Initiated Coverage Summit Research Buy
2016-05-29 Reiterated Rating Jefferies Group Buy
2016-05-18 Initiated Coverage Stephens Overweight

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
KHOSLA VINOD 3.36%  (1454220) KIOR / RNG /
Shmunis Vladimir CEO and Chairman 0.85%  (368822) RNG /
Shah Praful SVP, Strategy 0.73%  (316809) RNG /
Sipes David EVP of International Business 0.71%  (308220) RNG /
LEONE DOUGLAS M 0.52%  (223117) NOW / PRSS / RNG /
Dhruv Mitesh Chief Financial Officer 0.40%  (174252) RNG /
HOSEIN CLYDE Executive Vice President & CFO 0.40%  (173691) CREE / RNG /
Makagon Kira EVP, Innovation 0.39%  (166493) CALX / RNG /
Khosla Ventures II, L.P. 0.37%  (161951) KIOR / RNG / YUME /
Marlow John H SVP & General Counsel 0.34%  (146073) RNG /
Weiden David 0.19%  (81951) RNG / YUME /
THEIS ROBERT I 0.07%  (28921) RNG /
Thygesen Allan C. 0.05%  (23647) RNG /
Michelle McKenna 0.04%  (17367) COUP / NSP / RNG /
KOUREY MICHAEL R 0.03%  (13510) ARUN / RNG / RVBD /
Williams R Neil 0.02%  (6921) AMRS / INTU / RNG /
GOLDMAN KENNETH A 0.02%  (6573) FTNT / GIMO / GPRO / INFN / RNG / TNET / YHOO /