Yahoo Finance Here's Why RingCentral (RNG) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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.
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 sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of A. Earnings and sales are forecasted to increase 12.4% and 8.5% year-over-year, respectively.
10 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.09 to $3.63 per share. RNG also boasts an average earnings surprise of 6.4%.
On a historic basis, RingCentral has generated cash flow growth of 34.8%, and is expected to report cash flow expansion of 40.2% this year.
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
