Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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.
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 #2 (Buy) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 13.9% year-over-year for the current fiscal year, with sales growth of 8.9%.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.03 to $3.68 per share. RNG boasts an average earnings surprise of 4.8%.
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.
RNG should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.
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Ringcentral, Inc. (RNG) : Free Stock Analysis Report