Microsoft (MSFT), Salesforce (CRM) and Oracle (ORCL) are among Evercore’s top enterprise software stocks for 2026, the investment firm said on Monday.
“While we see the party broadening out in 2026, we do not see investors fleeing the infrastructure trade in software,” analysts at the firm wrote in a note to clients. “As such, MSFT, SNOW and ORCL remain three of our top ideas for next year.”
In addition to the aforementioned trio, the firm also said it likes Intuit (INTU), Snowflake (SNOW) and Samsara (IOT) going into next year.
Delving deeper, the analysts said Oracle has had “a more idiosyncratic set of debates” surrounding it than other software names, given concerns about its debt levels and its ties to OpenAI (OPENAI). However, the fundamentals are still strong from hyper-scalers, which should keep boosting enterprise artificial intelligence adoption.
For Salesforce, the company is seen as a name that “checks the most boxes” of a washed-out software company, though there is momentum related to its AI strategy and the possibility of revenue re-accelerating. Additionally, Salesforce’s low free cash flow multiple skews its risk-reward “materially higher,” the analysts added.
Intuit is seen as well-positioned to benefit from small businesses adopting AI, and Samsara is seen as a top small and medium-cap idea for 2026.
Palo Alto Networks (PANW) is the firm’s top pick in cybersecurity, thanks to the belief that the narrative will shift “meaningfully,” as the synergies from the CyberArk (CYBR) and Chronosphere acquisitions begin to start.