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. Ringcentral (NYSE:RNG)
Ringcentral (NYSE:RNG) is the #1 top app stock out of 246 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 -10.4% over the past year, overperforming other app stocks by 5 percentage points.
Ringcentral has an average 1 year
price target of $29.33, an upside of 3.5% from Ringcentral's current stock price of $28.34.
Ringcentral stock has a consensus Hold recommendation according to Wall Street analysts. Of the 9 analysts covering Ringcentral, 11.11% have issued a Strong Buy rating, 11.11% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 11.11% have issued a Strong Sell.
2. 8x8 (NASDAQ:EGHT)
8x8 (NASDAQ:EGHT) is the #2 top app stock out of 246 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: B, Growth: A, Momentum: C, Sentiment: C, Safety: B, Financials: C, and AI: C.
8x8 (NASDAQ:EGHT) 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 EGHT as a "A".
EGHT passed 5 out of 33 due diligence checks and has weak fundamentals. 8x8 has seen its stock return 3.92% over the past year, overperforming other app stocks by 19 percentage points.
8x8 has an average 1 year
price target of $2.18, an upside of 2.83% from 8x8's current stock price of $2.12.
8x8 stock has a consensus Hold recommendation according to Wall Street analysts. Of the 5 analysts covering 8x8, 40% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 20% have issued a Sell rating, and 40% have issued a Strong Sell.
3. Calix (NYSE:CALX)
Calix (NYSE:CALX) is the #3 top app stock out of 246 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 Calix (NYSE:CALX) is: Value: C, Growth: A, Momentum: B, Sentiment: A, Safety: C, Financials: B, and AI: A.
Calix (NYSE:CALX) has a Due Diligence Score of 25, which is -1 points lower than the app industry average of 26. Although this number is below the industry average, our proven quant model rates CALX as a "A".
CALX passed 7 out of 33 due diligence checks and has weak fundamentals. Calix has seen its stock return 58.21% over the past year, overperforming other app stocks by 73 percentage points.
Calix has an average 1 year
price target of $64.00, an upside of 4.29% from Calix's current stock price of $61.37.
Calix stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Calix, 50% have issued a Strong Buy rating, 25% have issued a Buy, 25% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.