MoffettNathanson analyst Sterling Auty lowered the firm’s price target on RingCentral (RNG) to $52 from $55 and keeps an Outperform rating on the shares after updating the firm’s model following what they describe as a "quite busy" 24 hours in terms of major news announcements. In addition to RingCentral announcing an extension with Avaya (AVYA), this included a new strategic relationship with AWS (AMZN), noted the firm, which believes RingCentral’s solution can be quite complementary for a large portion of the AWS customer base that requires turnkey solutions for both phone and contact center.
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Published first on TheFly
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