The software sector is poised for recovery in 2025 due to a stable macroeconomic environment, conservative guidance and improving sentiment after several years of underperformance, Oppenheimer said in a note on Thursday.
Improved margins, and strategic opportunities such as increased information technology budgets, generative artificial intelligence investments, mergers and acquisitions, lower interest rates and reduced recession fears will drive growth for the sector, according to the note.
The firm upgraded Freshworks (FRSH) to outperform, considering it a "thematic play" due to turnaround potential and exposure to the small-to-medium business market.
Oppenheimer downgraded PROS (PRO) to perform because of uncertainties surrounding its leadership transition and challenges in achieving a more efficient growth and profitability model.
Agilysys (AGYS), Salesforce (CRM), Clearwater Analytics (CWAN), and ServiceNow (NOW) are key stock picks representing potential growth opportunities, the firm added.
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