Could HubSpot Become the Next Salesforce?

HubSpot (NYSE: HUBS) has grown rapidly since its public debut nine years ago. From 2014 to 2022, the cloud-based customer relationship management (CRM) and marketing software provider grew its revenues at a compound annual rate of 40% as its total number of customers grew from 13,607 to 167,386. Its adjusted operating margin also improved from negative 27.7% in 2014 to positive 9.8% in 2022.

HubSpot's stock has risen by a whopping 1,868% from its IPO price of $25 -- which would have turned a $2,000 investment into over $39,000. But with an enterprise value of $24 billion, it's still only a tenth as valuable as cloud-based CRM leader Salesforce, which has an enterprise value of $241 billion. Can HubSpot keep growing over the next few decades and become as big as Salesforce one day?

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Source Fool.com