NEW YORK (TheStreet) -- Salesforce.com (CRM) - Get Report stock is up by 7.06% to $66.91 in after-hours trading on Wednesday, after the enterprise cloud computing company reported its fiscal 2016 fourth quarter results.
After the market close on Wednesday, the enterprise cloud computing company reported earnings of 19 cents per share, which is in-line with Wall Street's estimates.
Revenue rose by 25% year-over-year to $1.81 billion during the quarter, higher than analysts' forecasts for revenue of $1.79 billion. Growth was driven by a 25% year-over-year increase in subscription and support revenue, Salesforce said.
Additionally, Salesforce projected fiscal 2017 first quarter earnings between 23 cents per share to 24 cents per share, beating analysts' expectations for earnings of 21 cents per share.
Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall.
Recently, 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 articles's author.
You can view the full analysis from the report here: CRM