Among the firms best positioned to benefit from artificial intelligence (AI) are ones selling software for sales teams and have updated their software with AI. There are two reasons for the latter conclusion. One is that AI will revolutionize and greatly improve the sales process. Specifically, the technology “can do everything from predicting which prospects are most likely to close, to sales forecasting, to recommending the next best action to take.” McKinsey, a widely respected consulting firm, found that firms already utilizing AI “have increased leads and appointments by about 50%.”
The other reason firms developing AI-enabled software for sales teams will succeed is that the sales process is critical for almost every company. After all, it’s hard for businesses to increase their top and bottom lines if they aren’t selling more products and services. Sales professionals are usually responsible for performing the latter task. Here are the three best AI stocks to buy for September. All of these companies market AI-enabled software for sales teams.
HubSpot (HUBS)
HubSpot (NYSE:HUBS) provides its customers with sales tools through its customer relationship management (CRM) platform.
HubSpot has incorporated multiple AI-powered tools into its CRM platform, including “conversation intelligence, data quality tooling, data enrichment, predictive AI [and] content optimization.” In March, the company launched ChatSpot.ai, an AI-powered tool enabling firms to “draft professional, effective sales emails personalized to the recipient.”
Taken together, these tools should greatly enhance the performance of the sales teams utilizing HubSpot’s CRM offering. As a result, the demand for the platform is likely to soar going forward.
Meanwhile, Citi (NYSE:C) recently started coverage of HUBS stock with a Buy rating, saying the company can obtain a significant number of large customers and has a “significant growth runway” overall.
Monday.com (MNDY)
Monday.com (NASDAQ:MNDY) provides an operating system specifically tailored to work environments.
Within its operating system, it provides “product solutions for…sales CRM.” The company launched Monday AI which allows “external developers….to create their own apps using Monday AI technology and will be available to customers through the app marketplace,” Investor’s Business Daily recently reported.
Among monday.com’s huge customers are Coca-Cola (NYSE:KO) and Occidental Petroleum (NYSE:OXY). Analysts, on average, expect the company to move into the black next year with earnings per share of $1.37.
Investor’s Business Daily gives MNDY stock a very high Composite Rating of 95 and a Relative Strength score of 93. The latter metric shows the stock has performed quite well over the last year.
Salesforce (CRM)
Salesforce (NYSE:CRM), of course, specializes in providing customer relationship management (CRM) tools for sales teams. The company launched Einstein AI, which allows its customers to “embed predictive insights into any record or in any app” and “operationalise AI by adding it to every workflow or business process.”
CRM even partnered with IBM (NYSE:IBM), allowing its customers to adopt Salesforce’s AI offerings quickly and easily.
Salesforce reported strong Q2 results last week, as its top line jumped 11.4% year-over-year to $8.6 billion. The company also generated earnings-per-share, excluding certain items, of $2.12. CRM now expects its revenue to climb 11% for the full year and predicts its cash flow will soar 22% to 23% this year.
In light of the company’s strong growth, the shares have an attractive forward price-earnings ratio of 28.25 times.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
