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Evercore ISI analysts issued their top software stocks for this year. They picked Salesforce (CRM), Oracle (ORCL), and Microsoft (MSFT). The firm preferred core compounders. They believe those firms are best positioned to build on their multi-year momentum. They have the best platforms that customers want. This would result in a strong uptake rate for the adoption of AI technology.
The firm picked Snowflake (SNOW) for its growth potential. Workday (WDAY) is a turnaround pick, although the stock formed an uptrend since June 2024. It picked Intuit (INTU) as a contrarian idea.
Evercore left out Service Now (NOW). Closing near a 52-week high and trading at high valuations, the firm has strong growth and profitability. In addition, the firm has several years of experience developing AI solutions. In 2020, ServiceNow acquired Element AI for only $230 million.
The company’s focus is on enabling its direct sales team. This is the second driver that will lead to higher sales. As a result, investors should expect an increase in the return on investment for their products.
ServiceNow is evolving its front office product. Businesses require process automation. By achieving business process efficiency and cost savings, they will continue to spend their IT dollars on this company’s software.
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