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Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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RingCentral (RNG)

RingCentral is a leading provider of contact center software-as-a-service (SaaS) solutions, along with global enterprise cloud communications, video meetings, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect.

RNG is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 9% year-over-year for the current fiscal year, with sales growth of 8.2%.

10 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.11 to $3.52 per share. RNG also boasts an average earnings surprise of 6.8%.

Looking at cash flow, RingCentral is expected to report cash flow growth of 40.2% this year; RNG has generated cash flow growth of 34.8% over the past three to five years.

Investors should take the time to consider RNG for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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Ringcentral, Inc. (RNG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research