NEW YORK (TheStreet) -- Shares of Salesforce.com (CRM) were rallying, up 6.07% to $74.42 in early market trading Thursday, after the cloud software company surpassed analysts' earnings estimates for the first quarter and raised its full year guidance.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says, "Will he [chairman and CEO Marc Benioff] sell the company? He said don't bother him on these issues until he gets to $10 billion in revs and he passes SAP (SAP). I take him at his word."

"No love lost between SAP and CRM. You have to listen to that Salesforce conference call to hear how tough Benioff really is. Dare I say that CRM may actually be undervalued on 2017 earnings," Cramer added this morning.

Last night on CNBC's Mad Money, Cramer spoke with Benioff, who stressed that he's building a company not just focused on shareholders, but on all stakeholders.

On the recent takeover talks, Benioff said he hasn't been distracted by rumors and is doing right by all their stakeholders instead.

He's focused on becoming the fastest company to reach $10 billion in sales.

Salesforce has in the headlines following recent reports that it has interested buyers including Microsoft  (MSFT) and Oracle (ORCL).

For the first quarter, Salesforce earned 16 cents per share, higher compared to analysts' estimates of 14 cents a share, according to Thomson Reuters.

Revenue grew 22.8% from a year ago to $1.51 billion for the quarter, also topping analysts' estimates of $1.5 billion.

Looking ahead, Salesforce expects second quarter fiscal 2016 earnings of between 17 cents to 18 cents per share on revenue of between $1.59 billion to $1.6 billion.

Analysts are expecting earnings of 17 cents per share on revenue of $1.59 billion for the second quarter.

In addition, the business software provider raised its full-year guidance on increased subscription and services revenue.

The company now sees fiscal year 2016 revenue of between $6.52 billion to $6.55 billion. 

San Francisco-based Salesforce.com is a provider of enterprise cloud computing solutions that helps with customer relationship management.

The company delivers its service through Internet browsers and mobile devices, and markets its social enterprise applications and platforms to businesses on a subscription basis, primarily through its direct sales efforts and indirectly through partners.

Insight from TheStreet's Research Team:

Jim Cramer commented on Salesforce.com in a recent post on RealMoney.com. Here is what Cramer had to say about the stock:

What can you say about a stock that sails above a potential acquisition price because the company underneath it delivers a quarterly report that exceeds anything anyone could possibly expect?

That's what happened last night with salesforce.com  (CRM), and it is a wonder to behold.

Here's a company that had more distractions than anyone could ever dream of in one three-month period: endless takeover rumors, a battle with a state governor over civil rights, a strategic review of women's pay and titles to be sure of gender equality and competitors just taking pot shots left and right.

And what does it do in those three months? How about vastly, and I mean, vastly, exceed estimates on everything from revenue growth, to gross margins, to billings, to operating cash flow?

-Jim Cramer, 'Salesforce.com May Be Cheap Still' originally published 5/21/2015 on RealMoney.com.

Want more information like this from Jim Cramer BEFORE your stock moves? Learn more about RealMoney.com now.

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

"We rate SALESFORCE.COM INC (CRM) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."

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

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