RingCentral (RNG) Issues Q1 2019 Earnings Guidance

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RingCentral (NYSE:RNG) updated its first quarter 2019 earnings guidance on Monday. The company provided EPS guidance of $0.14-0.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.15. The company issued revenue guidance of $191.5-194.5 million, compared to the consensus revenue estimate of $188.93 million.RingCentral also updated its FY 2019 guidance to $0.69-0.73 EPS.

A number of research firms have recently weighed in on RNG. Zacks Investment Research downgraded RingCentral from a buy rating to a hold rating in a research report on Friday, January 25th. TheStreet upgraded RingCentral from a d+ rating to a c rating in a research report on Thursday, January 24th. Finally, Stephens began coverage on RingCentral in a research report on Thursday, January 3rd. They set an equal weight rating for the company. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. RingCentral currently has an average rating of Buy and a consensus price target of $94.27.

Shares of NYSE:RNG traded down $1.03 during trading on Monday, reaching $99.87. 1,802,581 shares of the company traded hands, compared to its average volume of 752,299. The company has a market cap of $8.11 billion, a price-to-earnings ratio of -285.34 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 4.07 and a current ratio of 4.07. RingCentral has a 52 week low of $51.95 and a 52 week high of $103.49.

In related news, CAO John H. Marlow sold 17,789 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $1,322,612.15. Following the completion of the sale, the chief accounting officer now directly owns 152,546 shares in the company, valued at approximately $11,341,795.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vladimir Shmunis sold 13,009 shares of the company’s stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $87.57, for a total value of $1,139,198.13. Following the sale, the chief executive officer now owns 276,760 shares of the company’s stock, valued at $24,235,873.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,484 shares of company stock valued at $19,716,779. Corporate insiders own 11.99% of the company’s stock.

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RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions for business communications and collaboration primarily in the United States. The company's products include RingCentral Office, a multi-tenant, multi-location, and enterprise-grade communications and collaboration solution that enables employees to communicate through voice, text, team messaging and collaboration, and HD video and Web conferencing through smartphones, tablets, PCs, and desk phones for businesses, which require a communications solution; RingCentral Professional, an inbound call routing subscription with additional text and fax capabilities primarily for smaller businesses; and RingCentral Fax solution that offers Internet fax capabilities, which allow businesses to send and receive fax documents without the need for a fax machine.

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