Deutsche Bank boosts RingCentral target to $125, Twilio target to $150. After attending Enterprise Connect in Florida, Deutsche Bank analyst Michael Turrin raised his price target for RingCentral (RNG) to $125 from $115 and for Twilio (TWLO) to $150 from $130. The analyst says UCaaS, CCaaS and CPaaS are "incredibly large markets," nearly $100B combined. While still early in terms of cloud penetration, the pace of cloud interest and uptake appears to be accelerating, Turrin tells investors in a research note. Further, prior missteps from legacy providers have become a catalyst for more immediate change from premise-based to cloud-based solutions, says the analyst. He believes RingCentral has "clearly established itself as the leader in UCaaS" and Twilio's "developer-led model is serving as a disruptive force across multiple markets." Turrin keeps Buy ratings on both stocks.
