On September 22, RingCentral rose 5.28% in regular trading, trading at $75.64 per share, with turnover of approximately $30.41 million. The rally was driven by a cluster of analyst upgrades and continued AI commercialization momentum.
On the catalyst front, Oppenheimer raised its price target on RingCentral sharply from $50 to $85 while maintaining an Outperform rating. RBC Capital Markets initiated coverage with an Outperform rating and an $85 price target, arguing the company is less susceptible to AI displacement risk than the market fears. RBC highlighted that customers using at least one native paid AI product now represent approximately 13% of total annualized recurring revenue, with net retention above 100% and meaningfully higher average revenue per user.
Additionally, RingCentral recently announced a ChatGPT plugin and Model Context Protocol connectors for Anthropic's Claude, enabling businesses to feed voice, SMS, and chat interaction data into large language models for lead prioritization and personalized outreach. The company also secured a deal with the New York Mets and expanded its partnership with NICE under a new multi-year agreement, reinforcing its growth trajectory in both UCaaS and CCaaS markets.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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