RingCentral initiated with a Sector Weight at KeyBanc

KeyBanc initiated coverage of RingCentral (RNG) with a Sector Weight rating and no price target as part of a broader research note launch coverage of select Enterprise Software names. The company has an opportunity to expand into Customer Experience, but it is a crowded field, the analyst tells investors in a research note. The opportunities of better growth from expanding beyond phone are “properly factored into the stock”, KeyBanc adds.