Raymond James analyst Brian Peterson lowered the firm’s price target on RingCentral to $62 from $75 and keeps a Strong Buy rating on the shares. RingCentral’s Q4 results reflected a softening demand environment and decelerating growth across each customer segment, with even the enterprise segment falling to 21% growth, resulting in an 11% subscription growth outlook that was well below the Street, the analyst tells investors in a research note.
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