RingCentral price target lowered to $30 from $38 at Craig-Hallum

Wedbush lowered the firm’s price target on RingCentral (RNG) to $30 from $38 to reflect a lower multiple, while keeping a Neutral rating on the shares. The firm notes the company reported its Q1 2025 results, featuring beats on the top and bottom-lines while reaffirming its conservative FY25 guidance across the board as it looks to continue accelerating growth across the UCaaS and CCaaS markets.