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Why RingCentral (RNG) is a Top Value Stock for the Long-Term

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.

Why Investors Should Pay Attention to This Value Stock

Different than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and 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 is a Zacks Rank #2 (Buy) stock, with a Value Style Score of A and VGM Score of A. Shares are currently trading at a forward P/E of 7.7X for the current fiscal year compared to the Internet - Software and Services industry's P/E of 25.3X. Additionally, RNG has a PEG Ratio of 0.4 and a Price/Cash Flow ratio of 10.3X. Value investors should also note RNG's Price/Sales ratio of 1.1X.

Many value investors pay close attention to a company's earnings as well. For RNG, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.00 to $3.63 per share for 2024. Per share RNG boasts an average earnings surprise of 6.4%.

With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding RNG to their portfolios.

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

To read this article on Zacks.com click here.

Zacks Investment Research