How can anyone quantify the upside from cloud computing? Gains of 16% in one day might be a starting place.
That's how much shares of Concur surged on Thursday after .
"Concur thrashed the estimates with a 9-cent beat off of a 12-cent basis, with dramatically better than expected revenues that rose 32.8% year over year, terrific 32% billings growth, and strong guidance for the next quarter," said Jim Cramer.
Part of the surge stems from the company's rapid growth with few companies presenting any serious competition; effectively Concur is involved in corporate travel and expense management via the cloud.
"Cocur's software streamlines the whole process, allowing companies to manage travel booking, itinerary planning, and expense reporting through the same platform, which is super important, because this is one of the major areas where businesses can save a bundle by better managing what's really going on," Cramer said. "In short, subscribing to Concur's cloud-based software as a service platform is a serious money-saver for the company's 20,000 clients."
This is exactly the kind of company that Cramer always says could have substantial upside. In fact, he said it specifically about Concur back on November 21, after talking with the CEO at the Dreamforce conference in California.
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That's because the "Mad Money" host believes that any firm that can successfully leverage the potential of the cloud may quickly become an industry titan.
And although this stock may be expensive when compared to conventional metrics Cramer isn't sure conventional metrics apply.
Sometimes opportunity is so big it simply can't be contained by traditional price to earnings multiple analysis.
Concur may well be one of those cases.
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