Rosenblatt raised the firm’s price target on RingCentral (RNG) to $50 from $45 and keeps a Buy rating on the shares. RingCentral delivered a solid Q1, beating on the key metrics including annual recurring revenue, revenue, operating margin, EPS, and free cash flow while raising FY26 guide across the board, the analyst tells investors in a research note.
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Read More on RNG:
- RingCentral Maintains Buy Rating and Steady Outlook with Unchanged $55 Price Target
- RingCentral Maintained at Hold as Solid Execution Offsets Subdued Growth; $33 Price Target Reaffirmed
- RingCentral reports Q1 adjusted EPS $1.20, consensus $1.17
- RingCentral sees Q2 adjusted EPS $1.15-$1.17, consensus $1.17
- RingCentral raises FY26 EPS view to $4.76-$4.97 from $4.85-$5.01