Jim Cramer Says the Rally Isn't Over for Salesforce.com Stock

Shares of Salesforce.com surged more than 8% at midday Thursday, and TheStreet’s Jim Cramer said the stock isn’t done going higher.
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Shares of Salesforce.com (CRM)surged more than 8% at midday Thursday, and TheStreet’s Jim Cramer said the stock isn’t done going higher. ‘I think it’s perfectly realistic to think the stock could go to the $70s,’ said Cramer, who’s portfolio manager of the Action Alerts PLUS charitable trust. Cramer said many analysts misunderstood Salesforce.com’s quarter, which he described as ‘fabulous.’ Cramer liked the company’s strong revenue growth and earnings power, and the fact that it has $11-billion in deferred revenue. Cramer said for Salesforce.com, there was guilt by association to companies like Tableau Software (DATA) and Linked In (LNKD), but Salesforce.com has a different growth story.