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

Zacks Equity Research
·2-min read

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.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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RingCentral (RNG)

RingCentral is a leading provider of Unified Communications as a Service (UCaaS) solutions including global enterprise cloud communications, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect.

RNG is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are up 7.1% over the past one week and up 0.1% over the past four weeks. RNG has lost 80.2% in the last one-year period as well. Looking at trading volume, an average of 2,257,265.25 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. 10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0.07 to $1.93 per share. RNG boasts an average earnings surprise of 10.4%.

RNG should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.


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