Pacific Crest makes Salesforce its top cloud pick on increased billings from large companies

Marc Benioff, CEO of SalesForce.
Adam Jeffery | CNBC

Investors should buy Salesforce shares because of progress in selling more cloud software services to large companies, according to Pacific Crest, which reiterated its overweight rating.

"Our proprietary tracker of Salesforce job postings suggests that large-deal momentum remains strong. ... We remain bullish on solid growth prospects as it becomes a broader cloud platform for large enterprises," analyst Brent Bracelin wrote in a note to clients Tuesday. "CRM is a top cloud stock to own for 2017."