RingCentral Inc. (RNG) reached a 52-week high of $78.21 during trading on Tuesday, with the share price hovering at $78.08 — just 1% below its peak.
The communication software company reported fiscal second-quarter 2026 earnings of $1.22 per share, beating analyst estimates of $1.16. Revenue came in at $657 million, also surpassing projections of $650.55 million.
Wall Street responded swiftly. Twelve analysts revised their earnings forecasts higher for the upcoming period. RBC Capital initiated coverage with an outperform rating and an $85 price target. Needham raised its target from $55 to $85 and maintained a buy rating.
The stock has surged 153% over the past year and is up 169% year-to-date in 2026, according to InvestingPro data. InvestingPro’s fair value estimate stands at $80.01, suggesting the shares remain only slightly undervalued at current levels.
