Mizuho analyst Siti Panigrahi lowered the firm’s price target on RingCentral to $50 from $80 and keeps a Buy rating on the shares. The company delivered solid Q3 sales results, but management provided Q4 guidance below consensus due to macro pressure causing sales-cycle elongation and smaller lands in the enterprise, Panigrahi tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on RNG:
- Ringcentral call volume above normal and directionally bullish
- RingCentral price target lowered to $60 from $80 at MKM Partners
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- RingCentral downgraded to Neutral from Buy at BTIG
- RingCentral price target lowered to $55 from $75 at Morgan Stanley