Could Palantir Become the Next Salesforce?
Palantir (NYSE: PLTR) and Salesforce (NYSE: CRM) both own cloud-based platforms that gather and analyze large amounts of data to help their clients make smarter decisions. But with a market cap of $14 billion, Palantir isn't in the same weight class as Salesforce, which is worth about $136 billion.
Analysts expect Salesforce to generate $31 billion in revenue in its fiscal 2023 year (which ends this month), or more than 16 times the $1.9 billion in revenue Palantir was expected to generate in 2022. These two tech companies aren't directly comparable, but could Palantir become as significant as Salesforce over the long term? Let's review Palantir's approach to data mining, how much larger it could grow, and if it could evolve into a blue-chip cloud giant like Salesforce in the future.
Image source: Getty Images.
Source Fool.com
