RingCentral, Inc. (RNG)
NYSE: RNG · IEX Real-Time Price · USD
32.79
+0.51 (1.58%)
At close: Jul 19, 2024, 4:00 PM
33.07
+0.28 (0.85%)
Pre-market: Jul 22, 2024, 7:00 AM EDT
RingCentral Stock Forecast
Stock Price Forecast
The 18 analysts with 12-month price forecasts for RingCentral stock have an average target of 38.94, with a low estimate of 28 and a high estimate of 50. The average target predicts an increase of 18.76% from the current stock price of 32.79.
Analyst Consensus: Buy
Analyst Ratings
The average analyst rating for RingCentral stock from 18 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.
Recommendation Trends
| Rating | Feb '24 | Mar '24 | Apr '24 | May '24 | Jun '24 | Jul '24 |
|---|---|---|---|---|---|---|
| Strong Buy | 4 | 4 | 4 | 4 | 4 | 4 |
| Buy | 4 | 4 | 4 | 4 | 4 | 4 |
| Hold | 11 | 11 | 10 | 10 | 10 | 10 |
| Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Strong Sell | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 19 | 19 | 18 | 18 | 18 | 18 |
Latest Forecasts
| Analyst | Firm | Rating | Rating | Action | Price Target | Upside | Date |
|---|---|---|---|---|---|---|---|
| Piper Sandler | Piper Sandler | Hold Maintains $32 → $31 | Hold | Maintains | $32 → $31 | -5.46% | Jul 10, 2024 |
| Wells Fargo | Wells Fargo | Hold Maintains $33 → $28 | Hold | Maintains | $33 → $28 | -14.61% | Jun 21, 2024 |
| Needham | Needham | Strong Buy Reiterates $42 | Strong Buy | Reiterates | $42 | +28.09% | May 20, 2024 |
| Wedbush | Wedbush | Hold Reiterates $40 | Hold | Reiterates | $40 | +21.99% | May 9, 2024 |
| Deutsche Bank | Deutsche Bank | Strong Buy Maintains $38 → $42 | Strong Buy | Maintains | $38 → $42 | +28.09% | May 9, 2024 |
Financial Forecast
Revenue This Year
2.41B
from 2.20B
Increased by 9.56%
Revenue Next Year
2.61B
from 2.41B
Increased by 8.21%
EPS This Year
3.66
from -1.74
EPS Next Year
4.18
from 3.66
Increased by 14.28%
Revenue Forecast
| Revenue | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 2.5B | 2.8B | 3.0B | 3.2B | 3.5B |
| Avg | 2.4B | 2.6B | 2.8B | 3.1B | 3.3B |
| Low | 2.3B | 2.5B | 2.7B | 3.0B | 3.2B |
Revenue Growth
| Revenue Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 14.5% | 14.5% | 14.0% | 15.6% | 12.3% |
| Avg | 9.6% | 8.2% | 6.7% | 11.2% | 8.0% |
| Low | 5.9% | 3.6% | 1.8% | 7.9% | 4.8% |
EPS Forecast
| EPS | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | 3.85 | 4.83 | 5.20 | 3.99 | 4.39 |
| Avg | 3.66 | 4.18 | 4.56 | 3.84 | 4.22 |
| Low | 3.50 | 3.75 | 4.14 | 3.72 | 4.10 |
EPS Growth
| EPS Growth | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| High | - | 31.9% | 24.2% | -12.6% | 14.4% |
| Avg | - | 14.3% | 9.0% | -15.9% | 10.0% |
| Low | - | 2.5% | -1.2% | -18.4% | 6.7% |
Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.