Piper Sandler Maintains Neutral Rating for RingCentral: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Piper Sandler has maintained its Neutral rating on RingCentral (NYSE:RNG) but lowered its price target from $34.00 to $31.00. RingCentral's shares have decreased by 1.33% in the last 24 hours, currently trading at $30.45. The new price target suggests a potential upside of 1.81% from the current price. RingCentral is a provider of unified communications as a service (UCaaS), offering solutions for voice, video, and messaging across various devices.
February 21, 2024 | 5:00 pm
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Piper Sandler maintains a Neutral rating on RingCentral, lowering its price target from $34.00 to $31.00, indicating a potential short-term upside of 1.81% from its current trading price of $30.45.
The adjustment in price target by Piper Sandler, a notable financial analyst firm, directly impacts investor perception and could influence RingCentral's stock price in the short term. The slight potential upside suggests a cautiously optimistic view, but the maintenance of a Neutral rating indicates that significant growth or decline is not immediately expected. This analysis is based on the firm's assessment of RingCentral's market position and financial health.
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