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.
Published first on TheFly
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