RingCentral, Inc.
In the published model solve dated 2026-Q2, anchored at $61.47, RingCentral, Inc. (RNG) is priced for today's economics sustained for ~8.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• RingCentral sells cloud communications by subscription, phone, messaging, meetings, and contact-center software, with subscriptions making up about 96 percent of revenue, so its economics are recurring and its growth comes from adding and retaining business seats. • The pivot to watch is AI: annual recurring revenue from customers using at least one paid AI product has doubled year over year to more than 10 percent of total ARR, the company's attempt to reaccelerate growth that has slowed to t
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326 institutional managers reported holding RNG in 13F filings for the quarter ended 2026-03-31. 79 opened new positions that quarter. Held by Vanguard Group, BlackRock, Capital Group (American Funds), among others. On the short side, 10.4M shares were sold short as of the 2026-06-15 count, about 12% of shares outstanding (7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
RNG has cut its share count 7.1% over the past five years, spending $1.15B on repurchases. It pays a dividend. Cash returned over the past three years: $6.41M in dividends and $874.65M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at RNG over the trailing three years. Absence is a fact about the company, not a signal. 14 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
RNG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-08 | -17.7% | -4.8% |
| 2023-11-09 | +2.4% | +24.1% |
| 2024-02-23 | +3.2% | -1.6% |
| 2024-05-08 | +13.4% | -19.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
RNG's latest 8-K filings: 2026-07-23 (items 2.02, 9.01); 2026-05-07 (items 2.02, 9.01); 2026-02-19 (items 2.02, 8.01, 9.01); 2026-01-05 (items 5.07); 2025-11-03 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.