Microsoft, Salesforce And Other Software Stocks From Benzinga's Most Accurate Analysts

US stocks closed lower, with software stocks recording sharp losses on Thursday. The Nasdaq Composite also tumbled more than 3% during the session.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Here's a look at some of the top software stocks from several analysts, according to Benzinga Analyst Stock Ratings.

Microsoft Corporation MSFT

• Macquarie’s analyst Sarah Hindlian initiated a Neutral rating on the company's stock on November 2, 2022, with a price target of $234. This analyst sees around 6% downside in the stock and has an accuracy rate of 65%.
• Rosenblatt’s analyst Blair Abernethy maintained a Buy rating on October 27, 2022, but slashed the price target from $300 to $285. Abernethy predicts the stock gaining over 14% and has an accuracy rate of 34%.
• Recent News: Group14 Technologies, a global manufacturer and supplier of advanced silicon battery technology, raised $214 million in additional financing from a consortium including Microsoft’s Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel.

The Trade Desk, Inc. TTD

• Jefferies analyst James Heaney downgraded the stock from Buy to Hold on December 15, 2022, and cut the price target from $65 to $55. Heaney sees around 17% increase in the company’s stock and has an accuracy rate of 6% only.
• Citigroup’s analyst Ygal Arounian initiated a Buy rating on the company’s stock on December 13, 2022, and with a price target of $60. This analyst sees around 28% surge in the stock and has an accuracy rate of 43%.
• Recent News: The Trade Desk, last month, reported better-than-expected Q3 EPS and sales results.

Salesforce, Inc. CRM

• Baird’s analyst Rob Oliver downgraded the stock from Outperform to Neutral on December 8, 2022, and slashed the price target from $200 to $150. This analyst sees around 15% surge in the stock and has an accuracy rate of 70%.
• Credit Suisse’s analyst Phil Winslow maintained an Outperform rating on the company’s stock on December 5, 2022, and lowered the price target from $250 to $225. This analyst sees the stock gaining 72%, and has an accuracy rate of 33%.
• Recent News: Salesforce, Inc CRM internally disclosed in late November that Mark Carter, executive vice president of security, would depart.

Zscaler, Inc. ZS

• Morgan Stanley’s analyst Hamza Fodderwala maintained an Overweight rating on the company’s stock on December 2, 2022, and lowered the price target from $180 to $162. This analyst sees around 38% surge in the stock and has an accuracy rate of 32%.
• Wells Fargo’s analyst Andrew Nowinski maintained an Overweight rating on December 2, 2022, and slashed the price target from $190 to $160. Nowinski sees the stock jumping around 36%, and has an accuracy rate of 53%.
• Recent News: Zscaler reported first-quarter revenue of $355.55 million, which topped average analyst estimates of $343.89 million.