From Investing.com: 2024-12-13 12:46:28

Mizuho Securities downgrades RingCentral Inc to “neutral,” citing uncertainties in subscription revenue growth for 2025. Share prices drop over 7%. Analysts express concern over future of partnership with NICE, impacting revenue growth. Software sector faces challenges in cautious economic environment, elongated sales cycles, and increased competition.

In addition to RingCentral, 8×8 Inc also downgraded to “underperform” with price target trimmed to $2.50. Shares down 16% at $2.6. Mizuho raises concerns over company’s performance amidst competitive software sector. Risks include slower sales cycles and economic uncertainty.



Read more at Investing.com: Mizuho downgrades RingCentral on subscription growth concerns, shares down 7% By Investing.com