RingCentral price target raised to $31 from $29 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter raised the firm’s price target on RingCentral (RNG) to $31 from $29 and keeps an Equal Weight rating on the shares. Q3 results were in-line with Street expectations as positive momentum in platform extensions and within the SMB and GSP cohorts was balanced by continued pressure in Enterprise. Reacceleration remains further out given expectations for Enterprise headwinds to persist through 2026, the analyst tells investors in a post-earnings note.