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.
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.