These 3 promising stocks have the backing of top Wall Street analysts.

Economic data and the Federal Reserve's rate decision are causing retail investors to struggle with the fluctuations of the stock market.

To make informed decisions, investors should consult Wall Street analysts who analyze the financial details of various companies and provide insights into their long-term prospects.

According to TipRanks, Wall Street's top pros have favored these three stocks.

Salesforce

Salesforce, a cloud-based CRM software provider, reported market-beating fiscal third-quarter earnings and in-line revenue, despite macro headwinds. The company's solid earnings growth was due to its productivity and cost reduction measures.

In the fiscal third quarter, the current remaining performance obligation, which is a leading indicator of revenue, experienced a 14% growth, surpassing management's forecast of approximately 11% growth. This outperformance was due to robust early renewal activity and a single large deal.

The analyst observed several positive aspects, such as the expansion of operating margin, growth in cash flow from operations, increased multi-cloud adoption, and the early success of the company's AI-related offerings.

Moskowitz raised his price target for Salesforce stock to $280 from $255 and maintained a buy rating. He stated, "CRM is well positioned to assist its extensive customer base in managing revenue and optimizing processes through digital transformation."

Moskowitz is ranked No. 94 among over 8,600 analysts on TipRanks, with a profitable rating 62% of the time and an average return of 16.3% per rating. (See Salesforce Technical Analysis on TipRanks)

Block

Last month, Square (SQ) impressed investors with strong third-quarter performance, driven by impressive growth in both its Cash App and Square platforms. The company also raised its earnings guidance and announced a $1 billion share buyback plan.

Bryan Keane, a Deutsche Bank analyst, raised his price target for SQ stock from $75 to $90 and maintained a buy rating. He noted that Block shares have recently regained some momentum after the results.

Through 2026, Keane stated that the Street's consensus expectations for operating income and earnings before interest, taxes, depreciation and amortization have increased due to better margins, resulting in substantial free cash flow generation.

The analyst predicts that Cash App will increase its monetization rate above its core estimate of 1.43% through 2024 due to growth in e-commerce, continued adoption of its existing products, and upcoming product launches. Meanwhile, the analyst anticipates that Block will maintain positive yields for the Square ecosystem by increasing Square Banking and other efforts.

Keane stated that we remain optimistic about the company's future with continued growth and enhanced profitability.

On TipRanks, Keane ranks 868th among over 8,600 analysts. His ratings have been successful 57% of the time, with each rating delivering an average return of 6.5%. (Check out Block Options Activity on TipRanks).

Microsoft

This year, MSFT has attracted a great deal of attention due to its determined pursuit of capturing growth prospects in the generative artificial intelligence field.

The company anticipates continued cloud migrations, increasing enterprise AI initiatives aimed at enhancing business operations, and expanding Microsoft 365 usage to improve performance. Additionally, the acquisition of Activision Blizzard is expected to bolster the company's gaming division.

Feinseth stated that MSFT's robust financials and cash flow will continue to fund growth initiatives, strategic acquisitions, and increase shareholder returns through dividend increases and share buybacks.

Feinseth raised the price target for MSFT stock from $433 to $475 and maintained a buy rating on the stock. He ranks 311th among over 8,600 analysts on TipRanks. His ratings have been profitable 60% of the time, with an average return of 9.8% per rating. (Check out Microsoft Insider Trading Activity on TipRanks)