Needham analyst Ryan Koontz lowered the firm’s price target on RingCentral (RNG) to $36 from $42 but keeps a Buy rating on the shares. The company delivered in line Q4 results while guiding Q1and FY25 below consensus, but while the softening outlook concerning, RingCentral is playing its hand as well as it can while investing in new products which can reignite growth, the analyst tells investors in a research note.
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Read More on RNG:
- RingCentral price target lowered to $32 from $36 at Mizuho
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- RingCentral price target lowered to $31 from $38 at Piper Sandler
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