Salesforce's (NYSE: CRM) stock rallied 9% during after hours trading on May 31 following its first-quarter earnings report. The cloud-based software company's revenue rose 24% year over year (26% in constant-currency terms) to $7.41 billion, which beat analyst estimates by $30 million. Adjusted net income declined 14% to $982 million, or $0.98 per share, but still cleared the consensus forecast by $0.04.
Do those better-than-expected numbers indicate it's finally time to invest in Salesforce stock, which remains down nearly 40% this year? Let's examine its growth rates and valuations to find out.
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Source Fool.com