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

Group 1 - Zacks Premium offers various tools to help investors become more confident and informed, including daily updates on Zacks Rank and Industry Rank, Equity Research reports, and Premium stock screens [1][2] - The Zacks Style Scores rate stocks based on value, growth, and momentum characteristics, providing complementary indicators to the Zacks Rank [2][3] Group 2 - The Value Score focuses on identifying undervalued stocks using ratios like P/E, PEG, and Price/Sales, appealing to value investors [3] - The Growth Score assesses a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow [4] - The Momentum Score helps investors capitalize on price trends by evaluating short-term price changes and earnings estimate shifts [5] Group 3 - The VGM Score combines the three Style Scores, offering a comprehensive rating based on value, growth, and momentum, making it a strong indicator alongside the Zacks Rank [6] - The Zacks Rank utilizes earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [7][8] Group 4 - To optimize returns, investors should target stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B, while also considering earnings estimate trends [9][10] - RingCentral (RNG) is highlighted as a stock to watch, currently rated 3 (Hold) with a VGM Score of A and a Value Style Score of B, indicating attractive valuation metrics [11][12] - RNG has a forward P/E ratio of 10.25, with 10 analysts raising earnings estimates for fiscal 2024, and a Zacks Consensus Estimate of $3.63 per share, along with an average earnings surprise of 6.4% [12]