RingCentral jumps after Q3 beat and higher full-year outlook

RingCentral (RNG) is up 7.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied mainly to a strong third-quarter earnings report that showed better profitability, solid subscription growth, and another increase to full-year 2026 guidance. Investor enthusiasm also seems to be getting an extra lift from signs that the company’s AI products are gaining traction and from post-earnings price-target increases by several analysts.

Details:

RingCentral said third-quarter subscription revenue rose 6.0% year over year to $653 million, while total revenue increased 5.9% to $676 million.

Profitability improved meaningfully, with non-GAAP operating margin reaching 24.7% and non-GAAP EPS climbing to $1.33 from $1.13 a year earlier.

The company raised its full-year 2026 outlook for subscription revenue, total revenue, non-GAAP operating margin, non-GAAP EPS, and free cash flow, which often acts as a strong catalyst for software stocks.

Management also highlighted that ARR from customers using a native paid AI product is approaching 15% and has doubled from a year ago, while gross debt was reduced to about $1 billion.

Sources:

RingCentral Investor Relations, SEC, TipRanks

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$RNG Insider Trading Activity

$RNG insiders have traded $RNG stock on the open market 35 times in the past 6 months. Of those trades, 0 have been purchases and 35 have been sales.

Here’s a breakdown of recent trading of $RNG stock by insiders over the last 6 months:

KIRA MAKAGON (President and COO) has made 0 purchases and 5 sales selling 59,043 shares for an estimated $3,495,967.
VLADIMIR SHMUNIS (CEO and Chairman) has made 0 purchases and 11 sales selling 53,973 shares for an estimated $3,017,954.
VAIBHAV AGARWAL (Chief Financial Officer) has made 0 purchases and 6 sales selling 26,089 shares for an estimated $1,467,348.
TARUN ARORA (Chief Accounting Officer) has made 0 purchases and 10 sales selling 20,950 shares for an estimated $1,209,604.
AMY GUGGENHEIM SHENKAN has made 0 purchases and 2 sales selling 2,529 shares for an estimated $151,060.
ROBERT I THEIS sold 2,530 shares for an estimated $101,908

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$RNG Hedge Fund Activity

We have seen 202 institutional investors add shares of $RNG stock to their portfolio, and 165 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

INVENOMIC CAPITAL MANAGEMENT LP removed 812,308 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $31,663,765
FIRST TRUST ADVISORS LP added 766,857 shares (+48.6%) to their portfolio in Q2 2026, for an estimated $29,892,085
LSV ASSET MANAGEMENT added 724,600 shares (+22.3%) to their portfolio in Q2 2026, for an estimated $28,244,907
JACOBS LEVY EQUITY MANAGEMENT, INC removed 723,944 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $28,219,337
PANAGORA ASSET MANAGEMENT INC added 651,374 shares (+89.0%) to their portfolio in Q2 2026, for an estimated $25,390,558
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 634,638 shares (+inf%) to their portfolio in Q2 2026, for an estimated $24,738,189
JPMORGAN CHASE & CO added 627,651 shares (+inf%) to their portfolio in Q2 2026, for an estimated $24,465,835

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$RNG Government Contracts

We have seen $24,200 of award payments to $RNG over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

UCAAS SYSTEM FOR SAO - HAWAII: $24,200

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$RNG Analyst Ratings

Wall Street analysts have issued reports on $RNG in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Rosenblatt issued a "Buy" rating on 05/08/2026

To track analyst ratings and price targets for $RNG, check out Quiver Quantitative's $RNG forecast page.

$RNG Price Targets

Multiple analysts have issued price targets for $RNG recently. We have seen 3 analysts offer price targets for $RNG in the last 6 months, with a median target of $43.0.

Here are some recent targets:

Elizabeth Porter from Morgan Stanley set a target price of $40.0 on 05/11/2026
Catharine Trebnick from Rosenblatt set a target price of $50.0 on 05/08/2026
Ryan Macwilliams from Wells Fargo set a target price of $43.0 on 05/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.