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. Lyft (NASDAQ:LYFT)
Lyft (NASDAQ:LYFT) is the #1 top app stock out of 243 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 Lyft (NASDAQ:LYFT) is: Value: C, Growth: A, Momentum: C, Sentiment: B, Safety: C, Financials: A, and AI: B.
Lyft (NASDAQ:LYFT) has a Due Diligence Score of 30, which is 4 points higher than the app industry average of 26.
LYFT passed 10 out of 33 due diligence checks and has average fundamentals. Lyft has seen its stock return 44.93% over the past year, overperforming other app stocks by 42 percentage points.
Lyft has an average 1 year
price target of $17.44, an upside of 19.6% from Lyft's current stock price of $14.58.
Lyft stock has a consensus Buy recommendation according to Wall Street analysts. Of the 16 analysts covering Lyft, 12.5% have issued a Strong Buy rating, 25% have issued a Buy, 62.5% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.
2. Pagerduty (NYSE:PD)
Pagerduty (NYSE:PD) is the #2 top app stock out of 243 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 Pagerduty (NYSE:PD) is: Value: B, Growth: A, Momentum: D, Sentiment: B, Safety: C, Financials: B, and AI: C.
Pagerduty (NYSE:PD) has a Due Diligence Score of 19, which is -7 points lower than the app industry average of 26. Although this number is below the industry average, our proven quant model rates PD as a "A".
PD passed 6 out of 33 due diligence checks and has weak fundamentals. Pagerduty has seen its stock lose -14.67% over the past year, underperforming other app stocks by -17 percentage points.
Pagerduty has an average 1 year
price target of $19.29, an upside of 20.09% from Pagerduty's current stock price of $16.06.
Pagerduty stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Pagerduty, 28.57% have issued a Strong Buy rating, 14.29% have issued a Buy, 42.86% have issued a hold, while 0% have issued a Sell rating, and 14.29% have issued a Strong Sell.
3. Ringcentral (NYSE:RNG)
Ringcentral (NYSE:RNG) is the #3 top app stock out of 243 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: C, Financials: A, and AI: C.
Ringcentral (NYSE:RNG) has a Due Diligence Score of 16, which is -10 points lower than the app industry average of 26. Although this number is below the industry average, our proven quant model rates RNG as a "A".
RNG passed 5 out of 33 due diligence checks and has weak fundamentals. Ringcentral has seen its stock lose -7.91% over the past year, underperforming other app stocks by -10 percentage points.
Ringcentral has an average 1 year
price target of $31.00, an upside of 3.23% from Ringcentral's current stock price of $30.03.
Ringcentral stock has a consensus Hold recommendation according to Wall Street analysts. Of the 13 analysts covering Ringcentral, 7.69% have issued a Strong Buy rating, 23.08% have issued a Buy, 61.54% have issued a hold, while 0% have issued a Sell rating, and 7.69% have issued a Strong Sell.