12 Most Profitable Software Stocks to Invest In

5. Salesforce, Inc. (NYSE:CRM)

Net Income (TTM): $6.66 billion

Number of Hedge Fund holdings: 121

On October 16, Canaccord Genuity reiterated its ‘Buy’ rating on Salesforce, Inc. (NYSE:CRM) with an unchanged price target of $300, implying a potential upside of nearly 27% from the current price level. This optimism stems from what the firm calls the company’s “reimagined platform for the Agentic Enterprise,” citing improvements in data, agentic, and application solutions.

The financial services company highlighted the company’s enhanced sales capacity and extended commercial licensing options. What’s even more interesting is that Salesforce, Inc. (NYSE:CRM) anticipates annual recurring revenue (ARR) spend to increase due to the customers who have transitioned to the “Agentic Enterprise” model by three to four times, resulting in a potential multiplier effect of its “Agentforce” vision, as the firm notes.

While emphasizing management projects, Canaccord Genuity acknowledged that meaningful results could take around a year to materialize, with key indicators for these improvements appearing soon.

Salesforce, Inc. (NYSE:CRM) is a California-based provider of customer relationship management (CRM) technology. Incorporated in 1999, the company connects companies and customers together through its core offerings, including Agentforce, Data Cloud, Industries AI, and Slack.