RingCentral price target raised to $38 from $31 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on RingCentral (RNG) to $38 from $31 and keeps a Neutral rating on the shares following Q3 results. Piper remarked that the quarter was “largely as anticipated”. The firm said it has unified communications as a service concerns for RingCentral, but is impressed with the continued execution on emerging products and free cash flow.