Needham Maintains Buy on RingCentral, Lowers Price Target to $42
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Ryan Koontz maintains a Buy rating on RingCentral (NYSE:RNG) but lowers the price target from $46 to $42.

February 21, 2024 | 11:48 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Needham maintains a Buy rating on RingCentral but lowers the price target from $46 to $42.
While the reduction in price target from $46 to $42 by Needham could suggest a tempered outlook on RingCentral's short-term price potential, the maintenance of a Buy rating indicates continued confidence in the company's fundamentals and long-term growth prospects. This mixed signal could lead to neutral short-term price movement as investors weigh the lowered price target against the reaffirmed positive rating.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100