Evercore is optimistic about enterprise software stocks heading into 2026. In a new investment note, the firm named Microsoft (MSFT), Salesforce (CRM), and Oracle (ORCL) as its top enterprise software stocks for 2026, saying spending tied to software infrastructure and AI should remain strong next year.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Let’s take a closer look at Evercore’s top-rated names and the key catalysts driving optimism.
1. Microsoft Seen as a Core AI Infrastructure Play
Evercore continues to see Microsoft as one of its top software stocks for 2026. The firm said Microsoft remains deeply embedded in enterprise IT spending through its cloud, software, and AI products.
Evercore added that Microsoft’s broad reach across Azure, productivity tools, and AI services keeps it central to long-term customer budgets, even as companies become more careful with spending.
That view is shared by Wedbush analyst Daniel Ives, who reiterated a Buy rating on the stock. Ives called Microsoft the “clear front-runner” in enterprise-scale AI and expects the company to add about $25 billion in revenue by fiscal 2026.
2. Salesforce Gains Support as AI Focus Improves
Evercore said Salesforce stands out among software stocks that have lagged in recent periods. The firm pointed to improving momentum in Salesforce’s AI strategy and the potential for revenue growth to pick up again.
That progress is already showing up in healthcare. Salesforce’s Agentforce Life Sciences platform is gaining traction across the industry. Novartis (NVS) recently expanded its partnership with Salesforce to improve how it engages with healthcare professionals and patients worldwide over the next five years. AstraZeneca (AZN) also adopted the platform earlier this month. Other large drugmakers, including Pfizer (PFE), Sanofi (SNY), Eli Lilly (LLY), and Amgen (AMGN), have also rolled out Agentforce tools.
Evercore added that Salesforce’s low free cash flow multiple improves the stock’s risk-reward profile at current levels, especially if execution around its AI strategy continues to strengthen.
3. Oracle’s Fundamentals Remain Firm
Evercore said Oracle continues to face more company-specific concerns than most peers. These include high debt, which limits flexibility, and questions around its link to OpenAI, where the long-term payoff is still uncertain.
Even so, Evercore said demand remains solid. Ongoing spending by large cloud customers should continue to support enterprise AI use and Oracle’s core business.
MSFT, CRM, ORCL: Which Is the Best Software Stock?
We used the TipRanks Stock Comparison Tool to determine which stock is currently preferred by Wall Street.
Microsoft carries a Strong Buy consensus rating, while Salesforce and Oracle both hold Moderate Buy ratings. Among the three, analysts see the highest upside potential in Oracle, followed by Microsoft, based on current price targets.
