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.
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Read More on RNG:
- RingCentral price target lowered to $40 from $45 at Raymond James
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