Piper Sandler Lifts RingCentral Price Target as Balance Sheet Trajectory Improves
Piper Sandler increased its 12-month price target for RingCentral (RNG) to $37 from $28 while leaving its rating at Neutral. The move follows a strong share reaction to quarterly results and guidance that largely met expectations once adjusted for foreign exchange. The firm highlighted improving balance sheet metrics, ongoing attachment of AI produ…