RingCentral price target raised to $36 from $35 at Baird

Baird analyst William Power raised the firm’s price target on RingCentral to $36 from $35 and keeps a Neutral rating on the shares. The firm said they reported solid Q2 results, including modest upside to subscrption revenue and and margins. ARR growth metrics were largely in line with recent trends. The company raised its full year subscription revenue growth guidance slightly while maintaining adjusted operating margins.