CFLT - Could Confluent Become the Next Salesforce?
2024-04-09 05:54:00 ET
Confluent (NASDAQ: CFLT) and Salesforce (NYSE: CRM) both help companies analyze data with their cloud-based platforms. Confluent's platform processes "data in motion" in real time as it streams between applications. Salesforce is a much larger company that operates the world's largest cloud-based customer relationship management (CRM) platform. Salesforce also provides other e-commerce, marketing, analytics, data visualization, and enterprise collaboration services.
Confluent was originally a division of LinkedIn before it was spun out as an independent company in 2014. It went public in 2021, but it now trades nearly 20% below its initial public offering (IPO) price with a market cap of $9 billion. Salesforce, which went public nearly 20 years ago, has rallied nearly 10,900% from its IPO price and is valued at $293 billion.
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Could Confluent Become the Next Salesforce?