UBS analyst Taylor McGinnis lowered the firm’s price target on RingCentral (RNG) to $33 from $38 and keeps a Neutral rating on the shares. Net new annual recurring revenue was up slightly year over year, with the company saying that it’s not seeing any direct impact from the macro yet and that the pipeline remains stable, the analyst tells investors in a research note. The firm is waiting for evidence of stability in the growth profile.
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Read More on RNG:
- RingCentral transferred with Buy rating at Needham
- RingCentral Reports Strong Q1 2025 Financial Results
- RingCentral’s Market Position: Hold Rating Amid Uncertain Growth Prospects and Macroeconomic Concerns
- RingCentral reports Q1 adjusted EPS $1.00, consensus 96c
- RingCentral sees Q2 adjusted EPS $1.00-$1.04, consensus $1.02