RingCentral price target lowered to $25 from $32 at Mizuho

Mizuho lowered the firm’s price target on RingCentral (RNG) to $25 from $32 and keeps a Neutral rating on the shares as part of a Q1 preview for the software sector. The firm cut price targets across the group to reflect recent software multiple compression. However, the recent selloff presents an “attractive buying opportunity,” the analyst tells investors in a research note. Mizuho expects strong Q1 reports but cautious management tones on the fiscal year. Tariffs are “unlikely to shake” core software-as-a-service fundamentals,” the analyst tells investors in a research note.