NEW YORK (TheStreet) -- Salesforce.com (CRM) - Get Report stock is rising by 3.67% to $80.19 in after-hours trading on Wednesday, after the company reported its fiscal 2016 third quarter earnings results after the market close today. 

The provider of enterprise cloud computing solutions posted adjusted earnings of 21 cents per share, up from 14 cents per share for the year ago period. 

Revenue rose year-over-year, to $1.71 billion from $1.38 billion for the fiscal 2015 third quarter.

Analysts had forecast for earnings of 19 cents per share on revenue of $1.7 billion for the most recent quarter.

Salesforce raised its full-year fiscal 2016 revenue guidance to range between $6.64 billion and $6.65 billion, up from the prior range between $6.60 billion and $6.625 billion. 

"Salesforce delivered yet another exceptional quarter with 27% constant currency growth in revenue and 30% constant currency growth in deferred revenue," CEO Marc Benioff said in a statement. "I'm delighted to announce that we expect to deliver our first $8 billion year during our fiscal year 2017, which puts us well on the path to reach $10 billion faster than any other enterprise software company."

Separately, TheStreet Ratings team rates SALESFORCE.COM INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

We rate SALESFORCE.COM INC (CRM) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

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

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