RingCentral Stock Price Increases 7% in a Month: Should You Buy It?

RingCentral's (RNG) shares have gained 7.4% in the past month compared with the Zacks Computer & Technology sector's rise of 5.6%. The uptick can be attributed to RNG's growing AI initiatives, including the introduction of RingCX — its AIfirst cloud contact center product. In second-quarter 2024, the customer count for RingCX increased above 70% sequentially, reaching more than 350 customers. RNG is riding on solid demand for its Unified Communications as a Service (UCaaS) and contact center software-as-a-s ...