Rosenblatt raises RingCentral stock price target on guidance boost

Rosenblatt has increased its price target for RingCentral stock to $105 from $80, maintaining a Buy rating. The new target implies a 26% upside from the current trading price of $83.39, which has delivered a 190% return year-to-date. RingCentral's guidance for fiscal 2026 revenue has been raised to $673 million to $680 million, surpassing Street expectations.

The company's gross debt has fallen below $1 billion, ahead of the year-end 2026 target, and management plans to shift capital back towards buybacks and dividends. The company's AI segment has shown remarkable growth, with AI annual recurring revenue more than doubling and contributing to a record 24.7% next-generation operating margin.

This performance has been recognized by multiple analyst firms, including Needham, Morgan Stanley, and Evercore ISI, who have all raised their price targets for RingCentral.

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