Palantir Technologies (PLTR) vs. The Sage Group (SGPYY): Which Is July’s Better Software Stock Pick?

Palantir Technologies (PLTR) vs. The Sage Group (SGPYY): Which Is July’s Better Software Stock Pick?

Posted On July 17, 2023 10:15 am

With the growing reliance of businesses on cloud platforms for efficiency, automation, and scalability, demand for SaaS is expected to grow exponentially. In this piece, I evaluated two software stocks, Palantir Technologies Inc. (PLTR – Get Rating) and The Sage Group plc (SGPYY – Get Rating), to determine a better buy now.

PLTR constructs software platforms for the U.S. intelligence community to assist in counterterrorism investigations and operations, while SGPYY, based in the United Kingdom, provides technology solutions for global small and medium businesses.

Organizations are increasingly embracing hybrid and public cloud solutions on a large scale, aiming to enhance their overall business performance. In addition, they are actively seeking centralized data-driven analytics capabilities to facilitate informed decision-making processes.

Within the realm of cloud computing, SaaS stands out as the largest segment, serving as the standard delivery model for numerous enterprise applications. The appeal of SaaS solutions lies in their reliability, accessibility, and cost-effectiveness, making them highly attractive to many companies.

Moreover, SaaS solutions offer a centralized platform that connects users to cloud-based services, enabling swift application deployment while minimizing the time spent on laborious startup and maintenance tasks.

According to a report by Fortune Business Insights, the global SaaS market is expected to reach $908.21 billion by 2030, growing at a CAGR of 18.7%. The industry’s tailwinds should bode well for PLTR and SGPYY.

In terms of price performance, PLTR is a clear winner with 95.1% gains over the past three months compared to SGPYY’s 22.6% gain. Moreover, PLTR has gained 140.5% over the past six months, while SGPYY climbed 27.4%. Also, PLTR has surged 160.8% year-to-date compared to SGPYY’s 35.3% gain.

But which stock is a better buy now? Let’s find out…

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