RingCentral shares are trading lower after Rosenblatt downgraded the stock from Buy to Neutral and lowered its price target from $52 to $35.
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt has downgraded RingCentral's stock from Buy to Neutral and lowered its price target from $52 to $35. This has led to a decrease in RingCentral's share price.
October 23, 2023 | 6:33 pm
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NEGATIVE IMPACT
RingCentral's stock has been downgraded by Rosenblatt from Buy to Neutral, with a lowered price target from $52 to $35, leading to a decrease in share price.
The downgrade from Rosenblatt is a negative signal to investors, indicating less confidence in the company's stock. This, coupled with the lowered price target, has likely contributed to the decrease in RingCentral's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100