RingCentral, Inc.

NYSE:RNG Stock Report

Market Cap: US$5.8b

RingCentral Future Growth

Future criteria checks 4/6

RingCentral is forecast to grow earnings and revenue by 43.2% and 4.5% per annum respectively. EPS is expected to grow by 51.8% per annum. Return on equity is forecast to be 116.6% in 3 years.

Key information

43.2%

Earnings growth rate

51.79%

EPS growth rate

Software earnings growth20.4%
Revenue growth rate4.5%
Future return on equity116.59%
Analyst coverage

Good

Last updated03 Sep 2026

Recent future growth updates

Recent updates

Narrative Update • Sep 05

RNG: Rich P E Faces Test From AI And Margin Execution

Analysts have raised their fair value estimate for RingCentral from $48.57 to $57.64, citing higher expected profit margins, a lower assumed future P/E multiple, and supportive price target moves that highlight the company's position in unified communications, its expanding AI and contact center offerings, and its focus on margin expansion and shareholder returns. Analyst Commentary Recent research on RingCentral offers a mix of optimism on execution and AI driven upsell, alongside caution on valuation risk and the lack of clear near term catalysts.
Narrative Update • Aug 22

RNG: Partnership And Dividend Momentum Will Test Rich P E Expectations

RingCentral's implied fair value target has shifted higher to about $48.57 from $45.40. This reflects analysts' updated price targets in the $40 to $43 range following what they describe as a solid Q2 report, a slightly better quarter than expected, and incremental positives around partnerships, dividends, and guidance.
Narrative Update • Aug 08

RNG: Partnership Gains And Dividend Policy Will Support Future Upside

Analysts have raised their fair value estimate for RingCentral to about $59.18 from $55.00, citing higher Street price targets after recent research highlighted a solid quarter, strengthened partnerships, and updated guidance. Analyst Commentary Recent Street research on RingCentral points to a more constructive tone, with several bullish analysts adjusting their price targets higher after the latest quarterly report and guidance update.
Narrative Update • Jul 24

RNG: Partnership Reliance And Neutral Stance Will Likely Cap AI Upside

Analysts have lifted RingCentral's implied fair value estimate from $31.49 to $38.00. This reflects a series of higher price targets clustered around $40 to $43 after what they describe as a solid, slightly better than expected quarter and updates to key partnerships and guidance.
Seeking Alpha • Jul 24

RingCentral: FCF Growth Amid AI Sales Pivot Is Impossible To Ignore

Summary RingCentral offers a compelling AI-driven growth story, with shares up ~40% YTD and a recent Q2 beat-and-raise. RNG’s AI contact center products are driving >100% net retention and higher average revenue per customer. Valuation remains attractive: RNG trades at modest multiples with a $4.32 billion enterprise value and robust mid-20s EBITDA/FCF margins. I reiterate a "Buy" rating, citing deep market opportunity, diversified partnerships, and rising free cash flow supporting further gains. Read the full article on Seeking Alpha
Narrative Update • Jul 06

RNG: AI Adoption And Margin Expansion Will Support Future Upside

RingCentral's analyst price target has moved from $45.78 to $55.00 as analysts point to updated assumptions around revenue growth, profit margins, discount rates and future P/E multiples, which are reflected in recent target hikes from several firms. Analyst Commentary Recent research commentary on RingCentral points to a cluster of higher price targets, with several bullish analysts revisiting their models to reflect updated views on the company’s revenue trajectory, profitability path and valuation multiples.
Narrative Update • Jun 22

RNG: Higher Rate Sensitivity Will Likely Restrain AI Margin Upside

The analyst price target for RingCentral has been revised from $29.00 to about $31.49, with analysts citing updated assumptions around profit margins and future P/E expectations as key drivers of the change. Analyst Commentary Recent Street research on RingCentral points to a more tempered view of the stock, even as price targets have been recalibrated.
Narrative Update • Jun 04

RNG: AI Execution And Cash Discipline May Balance P E And Competitive Risks

RingCentral’s analyst price target has been updated in line with recent $7 to $11 price target revisions from multiple firms, with analysts pointing to their latest assessments of growth, profitability and future P/E assumptions as key drivers. Analyst Commentary Recent price target revisions between $7 and $11 are tied to fresh views on RingCentral’s growth profile, profitability path and where its P/E could reasonably sit based on execution against current expectations.
Narrative Update • May 21

RNG: AI Adoption And Free Cash Flow May Offset Future Pricing Pressure

RingCentral's analyst price target has shifted higher from about $37.47 to $45.40. Analysts point to updated assumptions around revenue growth, profit margins, future P/E and recent research highlighting solid Q4 results, growing AI adoption and free cash flow trends as key supports for the change.
Narrative Update • May 03

RNG: Future Enterprise Pricing Pressure Will Outweigh AI And Cash Flow Benefits

RingCentral's analyst price targets have moved higher into a roughly $32 to $38 range, as analysts point to solid Q4 results, steady revenue trends, and improving free cash flow, while also highlighting future pricing pressure in Enterprise. Analyst Commentary Recent Street research on RingCentral clusters around a more constructive view of the company’s execution, tempered by concerns about future pricing and the quality of growth.
Narrative Update • Apr 19

RNG: AI Traction And Free Cash Flow Will Offset Future Pricing Risk

Narrative update on RingCentral Analysts have nudged the blended price target for RingCentral higher by about $1.77 to roughly $37.47. This reflects updated models after what they describe as solid Q4 results, improving free cash flow and growing traction in AI enabled products, even as some flag future Enterprise pricing pressure.
Narrative Update • Apr 04

RNG: 2026 Enterprise Pricing Pressure Will Likely Restrain AI Optimism

Analysts have nudged RingCentral's average price target higher by about $5 to the mid $30s, citing solid Q4 results, improving free cash flow and growing adoption of its AI enabled multi product platform as key supports for the updated view. Analyst Commentary Recent research updates point to a mixed backdrop for RingCentral, with several firms lifting price targets after what they describe as solid Q4 results and steady progress on free cash flow and AI driven products.
Narrative Update • Mar 21

RNG: Enterprise Pricing Pressure In 2026 Will Likely Cap Upside Potential

The analyst price target for RingCentral has been raised by $2 to $29, reflecting models that now assume slightly higher revenue growth and a lower future P/E. This is supported by recent Q4 reports that analysts describe as solid, with improving free cash flow and growing traction in AI driven products.
Narrative Update • Mar 09

RNG: Future Pricing Pressure And AI Execution Risk Will Limit Upside

Analysts have nudged their average price target for RingCentral higher to about $35.70 from roughly $33.24. They point to recent Q4 results, improving free cash flow, and an updated earnings profile with higher profit margin assumptions and a lower future P/E as key supports for the shift.
Narrative Update • Mar 05

RNG: AI Platform And Free Cash Flow Will Support Future Upside

Narrative Update Our updated narrative reflects a higher analyst price target for RingCentral, rising by $3.46, as analysts point to solid Q4 results, improving free cash flow, and growing traction in multi-product and AI-powered offerings, while still flagging future pricing pressure and revenue growth that remains in the mid-single digits. Analyst Commentary Recent Street research around RingCentral centers on a cluster of higher price targets following Q4 results, with most firms maintaining Neutral or positive ratings while highlighting both execution on cash generation and ongoing questions about pricing and growth beyond the near term.
Narrative Update • Feb 19

RNG: AI Voice Partnership Will Support Future Profitability Despite Minor Model Revisions

Analysts have trimmed their average $ fair value estimate for RingCentral by about $0, keeping it close to $42 while modestly adjusting assumptions around the discount rate, revenue growth, profit margin and future P/E to reflect the latest research, including a $1 price target cut cited in recent Street commentary. Analyst Commentary Bullish analysts are treating the recent $1 trim to the headline price target as a fine tuning of models rather than a shift in their broader view, keeping fair value expectations clustered around the current US$42 estimate.
Narrative Update • Feb 05

RNG: AI Communications Partnership And Buybacks Will Support Future Profitability

The latest analyst update trims the RingCentral price target by about US$1, as modest changes in the modeled discount rate, revenue growth, profit margin, and future P/E assumptions lead analysts to fine-tune their fair value estimates. Analyst Commentary Recent commentary points to a relatively measured adjustment, with the US$1 trim in the price target framed more as a technical tweak rather than a major shift in conviction on the stock.
Narrative Update • Jan 22

RNG: AI Customer Engagement Suite And Buybacks Will Support Future Profitability

Analysts now see RingCentral's fair value edging to about $42.32 per share from roughly $41.94, reflecting updated views on revenue growth, margins, discount rates and future P/E after recent research that included a $1 price target reduction at Morgan Stanley. Analyst Commentary Recent commentary circles around how RingCentral can justify its current fair value estimate near $42.32 per share, especially after the modest $1 trim to a major firm’s price target.
Narrative Update • Jan 08

RNG: AI Customer Engagement Expansion Will Support Future Profitability Momentum

Analysts have adjusted their price targets on RingCentral, citing updated assumptions around revenue growth, profit margin, discount rate and a higher future P/E multiple. These changes collectively translate into a refreshed valuation view expressed in US$ terms, even though the core fair value estimate remains at US$41.94.
Narrative Update • Dec 15

RNG PBX Migration Tailwind Will Support AI And Profitability Momentum

Analysts have trimmed their price target on RingCentral to approximately $42 from about $47. This reflects more conservative assumptions for revenue growth and valuation multiples, even as they acknowledge a stabilizing competitive backdrop and improving profitability.
User avatar
New Narrative • Apr 30

AI-Powered RingCX And Market Expansion Will Create Future Opportunities

RingCentral's AI-powered solutions and market expansion are driving significant revenue growth and capturing market share.
Seeking Alpha • Mar 20

RingCentral Benefits As AI Technologies Get Less Expensive

Summary RingCentral's positive GAAP operating earnings and pre-tax earnings in 4Q 2024 mark a significant milestone, driven by cost optimization and AI tool development. The company is expanding its AI-enabled product suite, enhancing features like call transcriptions, IVA, and CRM integration, benefiting from decreasing AI technology costs. Management expects ARR from new services to double by end-2025, with international expansion and strong UCaaS market position driving future growth. We rate RingCentral stock as a BUY at $68 per share, based on a 2025 EBITDA outlook and a target EV/EBITDA multiple of 22x. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:RNG - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,8833516987969
12/31/20272,76127565274915
12/31/20262,64116661971914
6/30/20262,584110576671N/A
3/31/20262,54784541632N/A
12/31/20252,51543530617N/A
9/30/20252,48613516601N/A
6/30/20252,456-12489577N/A
3/31/20252,428-40454537N/A
12/31/20242,400-58400483N/A
9/30/20242,357-98382464N/A
6/30/20242,307-133349424N/A
3/31/20242,253-139313387N/A
12/31/20232,202-165324400N/A
9/30/20232,156-402246325N/A
6/30/20232,107-645197281N/A
3/31/20232,054-783151241N/A
12/31/20221,988-879101191N/A
9/30/20221,912-713-202200N/A
6/30/20221,818-576-199200N/A
3/31/20221,710-527-218174N/A
12/31/20211,595-376-245152N/A
9/30/20211,481-260-7102N/A
6/30/20211,370-134-133-14N/A
3/31/20211,269-22-132-11N/A
12/31/20201,184-83-143-35N/A
9/30/20201,102-106-201-39N/A
6/30/20201,032-98-8361N/A
3/31/2020969-108N/A58N/A
12/31/2019903-54N/A65N/A
9/30/2019839-34N/A94N/A
6/30/2019779-31N/A88N/A
3/31/2019725-30N/A80N/A
12/31/2018674-26N/A72N/A
9/30/2018626-21N/A59N/A
6/30/2018583-11N/A53N/A
3/31/2018542-5N/A45N/A
12/31/2017504-4N/A41N/A
9/30/2017467-11N/A38N/A
6/30/2017433-19N/A32N/A
3/31/2017405-25N/A34N/A
12/31/2016380-16N/A30N/A
9/30/2016359-29N/A25N/A
6/30/2016339-28N/A19N/A
3/31/2016317-28N/A11N/A
12/31/2015296-32N/A5N/A
9/30/2015275-35N/A-2N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: RNG's forecast earnings growth (43.2% per year) is above the savings rate (3.7%).

Earnings vs Market: RNG's earnings (43.2% per year) are forecast to grow faster than the US market (17.2% per year).

High Growth Earnings: RNG's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: RNG's revenue (4.5% per year) is forecast to grow slower than the US market (13.4% per year).

High Growth Revenue: RNG's revenue (4.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: RNG's Return on Equity is forecast to be very high in 3 years time (116.6%).

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/14 03:46
End of Day Share Price 2026/09/11 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

RingCentral, Inc. is covered by 33 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William PowerBaird
Michael FunkBofA Global Research
Matthew VanVlietBTIG