According to
Zen Ratings, our proprietary rating system that evaluates 115 factors proven to drive growth in stocks and assigns each stock in our system an overall letter grade as well as 7 individual Component Grades for Value, Growth, Momentum, Sentiment, Safety, Financials, and proprietary AI algorithms, the 3 best software stocks to buy right now are:
1. 8x8 (NASDAQ:EGHT)
8x8 (NASDAQ:EGHT) is the #1 top app stock out of 229 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year.
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The Component Grade breakdown for 8x8 (NASDAQ:EGHT) is: Value: A, Growth: B, Momentum: C, Sentiment: A, Safety: B, Financials: C, and AI: C.
8x8 (NASDAQ:EGHT) has a Due Diligence Score of 38, which is 7 points higher than the app industry average of 31.
EGHT passed 12 out of 33 due diligence checks and has average fundamentals. 8x8 has seen its stock return 29.81% over the past year, overperforming other app stocks by 67 percentage points.
8x8 has an average 1 year
price target of $3.00, an upside of 43.54% from 8x8's current stock price of $2.09.
8x8 stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering 8x8, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.
2. Ringcentral (NYSE:RNG)
Ringcentral (NYSE:RNG) is the #2 top app stock out of 229 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year.
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The Component Grade breakdown for Ringcentral (NYSE:RNG) is: Value: A, Growth: A, Momentum: C, Sentiment: C, Safety: B, Financials: A, and AI: C.
Ringcentral (NYSE:RNG) has a Due Diligence Score of 29, which is -2 points lower than the app industry average of 31. Although this number is below the industry average, our proven quant model rates RNG as a "A".
RNG passed 11 out of 38 due diligence checks and has average fundamentals. Ringcentral has seen its stock return 60.75% over the past year, overperforming other app stocks by 98 percentage points.
Ringcentral has an average 1 year
price target of $41.57, a downside of -0.69% from Ringcentral's current stock price of $41.86.
Ringcentral stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Ringcentral, 14.29% have issued a Strong Buy rating, 14.29% have issued a Buy, 71.43% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.
3. Diebold Nixdorf (NYSE:DBD)
The Component Grade breakdown for Diebold Nixdorf (NYSE:DBD) is: Value: B, Growth: B, Momentum: C, Sentiment: C, Safety: B, Financials: C, and AI: C.
Diebold Nixdorf (NYSE:DBD) has a Due Diligence Score of 39, which is 8 points higher than the app industry average of 31.
DBD passed 12 out of 33 due diligence checks and has average fundamentals. Diebold Nixdorf has seen its stock return 67.44% over the past year, overperforming other app stocks by 105 percentage points.
Diebold Nixdorf has an average 1 year
price target of $100.00, an upside of 23.4% from Diebold Nixdorf's current stock price of $81.04.
Diebold Nixdorf stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Diebold Nixdorf, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.