Shares of cloud computing giant Salesforce.com gained more than 4 percent Thursday as investors and analysts cheered the company's latest quarterly results.
The company reported adjusted first-quarter earnings per share of 24 cents on revenue of $1.92 billion. Analysts polled by Reuters expected Salesforce to report 23 cents a share on revenue of $1.89 billion.
Salesforce also raised its full-year forecast, driven by higher demand for its web-based sales and marketing software.
Wall Street analysts were quick to reward the company's stellar quarter, with at least 15 analysts raising their price target on the stock, including Canaccord Genuity.