RingCentral price target lowered to $32 from $36 at Mizuho

Mizuho lowered the firm’s price target on RingCentral (RNG) to $32 from $36 and keeps a Neutral rating on the shares. RingCentral reported “mixed” Q4 results, including a slight miss on Subscription revenue and a slight beat on total revenue, though guidance was below expectations, partly due to foreign exchange, the analyst tells investors in a research note. Mizuho believes the commoditization of UCaaS paired with RingCentral’s strategic shift in CCaaS will likely challenge a 2025 top-line stabilization.