NEW YORK (TheStreet) -- Microsoft (MSFT) - Get Report stock is surging 4.50% to $54.40 this morning after the company reported a fiscal 2016 second quarter earnings and revenue beat on Thursday afternoon.

"[CEO] Satya Nadella has taken a company that people basically forgot about and has made it cool again," TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning.

Microsoft reported "amazing cloud growth," an increase in Windows 10 users, additional Xbox Live monthly users and success with its Halo 5 video game, Cramer pointed out. 

"I can't emphasize enough, their cloud growth is insanely quick," Cramer continued. Microsoft's "intelligent cloud" sector, where it does analytics, is impressive, and the company's strategy to give users a free Windows 10 upgrade "turned out to be brilliant," he noted.  

Even the company's Bing search engine is gaining share, to the surprise of Cramer. "I thought it was like Bing Crosby - hasn't been around for a while," he joked.

"Within Microsoft there is so much, and Satya is bringing it out," Cramer stated, adding that he would like to congratulate the company for the turnaround.

Microsoft and e-commerce giant (AMZN) could ultimately compete in a "clash of the titans," but right now there's just too much space within the industry for that to happen, Cramer noted. 

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Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A.

Microsoft's strengths include its solid stock price performance, increase in net income, reasonable valuation levels, expanding profit margins and good cash flow from operations.

You can view the full analysis from the report here: MSFT

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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