RingCentral price target lowered to $45 from $50 at Mizuho

Mizuho analyst Siti Panigrahi lowered the firm’s price target on RingCentral to $45 from $50 and keeps a Buy rating on the shares. The analyst reduced revenue growth expectations post the Q4 results. RingCentral reported "disappointing" earnings and conveyed a 2023 revenue outlook that implies a more meaningful growth deceleration that expected, the analyst tells investors in a research note.