Raymond James analyst Brian Peterson raised the firm’s price target on RingCentral (RNG) to $55 from $40 and keeps an Outperform rating on the shares. The Q1 results were in-line to slightly above expectations, and the full year outlook was modestly increased, 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