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Here's Why RingCentral (RNG) is a Strong Value Stock

Zacks Equity Research
·2 分鐘文章

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 Investors Should Pay Attention to This Value Stock

Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, and Price/Cash Flow, the Value Style Score identifies the most attractive and most discounted stocks.

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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 boasts a Value Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of RingCentral are trading at a forward earnings multiple of 9.6X, as well as a PEG Ratio of 0.5, a Price/Cash Flow ratio of 12.9X, and a Price/Sales ratio of 1.4X.

Many value investors pay close attention to a company's earnings as well. For RNG, 10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.09 to $3.63 per share for 2024. Per share RNG boasts an average earnings surprise of 6.4%.

RNG should be on investors' short lists because of its impressive earnings and valuation fundamentals, a good Zacks Rank, and strong Value 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