Raymond James has ranked Salesforce (CRM, Financial) as the #1 enterprise software stock for 2025 based on its strong subscription growth and leadership in multi-cloud transformation initiatives.
Raymond James underlined in a research note Salesforce's predicted 10% subscription revenue growth on a $30 billion basis is the main determinant of the firm's large-cap inclination. The experts highlighted the company's success in introducing generative artificial intelligence solutions alongside other software providers including HubSpot, ZoomInfo, and Intapp.
The company has changed evaluations for a number of other business software providers. RingCentral (RNG, Financial) was dropped from Strong Buy to Outperform along with a $45 price target; Intapp (INTA, Financial) and Vertex (VERX, Financial) were downgraded to Market Perform from Outperform. With a price objective set at $135, Workiva (WK, Financial) was upgraded to Outperform from Market Perform.
The AI story has changed, according to Raymond James analysts, as monetizable generative AI solutions increasingly center "copilot-oriented" application cases. The company showed hope about Salesforce's capacity to keep pace in a fast-changing software industry.
