salesforce.com, inc. (NYSE:CRM) posted first quarter earnings for fiscal year 2016 on May 20, beating estimates for both earnings per share and revenue. Shares are up 5.5% to $74.15

Salesforce became the global cloud computing company reach a $6 billion revenue run rate, which is faster than any other enterprise software company. CEO Marc Benioff added that the company’s current outlook puts them on track to reach $7 billion in revenue run rate later this year. He added, “Our goal is to be the fastest to reach $10 billion in annual revenue.”

The company posted non-GAAP diluted earnings per share of $0.16, beating the analyst consensus of $0.14. Salesforce posted revenue in-line with the analyst estimate at $1.51 billion, marking a 23% year-over-year increase, or a 27% year-over-year increase barring foreign exchange fluctuations.

Looking forward, Salesforce projects second quarter revenue between $1.59 billion and $1.60 billion, which would be a 21% year-over-year increase. For the full fiscal year 2016, Salesforce expects revenue between $6.52 billion and $6.55 billion, marking as 21% to 22% year-over-year increase.

Analysts weighed in following the quarterly report:

On May 20, analyst Richard Davis of Canaccord Genuity maintained a Buy rating on Salesforce  with a $85 price. Davis noted that Salesforce.com is a “structural long,” meaning that the “best strategy is to trade around a core position in the stock.” The analyst noted that CRM “Surpassed the $6B revenue run rate mark faster than any other enterprise software company with F2016 guidance suggesting the $7B mark will be surpassed later this year.” Davis concluded, “CRM is interesting to buy now and we remain quite bullish on the stock’s long-term prospects.”

Richard Davis has rated Salesforce.com 21 times since March 2011, earning an 86% success rate recommending the stock with a +21% average return per CRM rating. Overall, Davis has a 59% success rate recommending stocks with a+6.6% average return per rating.

Separately on May 21, Richard Baldry of Roth Capital maintained a Buy rating on Salesforce.com with an $80 price target. Baldry noted that solid revenue, deferred revenue, and collections grew signifying the potential for accelerated growth. Going forward, Baldry expects “greater early-year spending to normally flatten or lower earnings sequentially.” The analyst concludes, “As Salesforce.com remains the largest SaaS player, and a still rapid grower, we view its former peak valuation as possible to recapture.”

Richard Baldry has rated Salesforce.com 4 times since August 2011, earning a 100% success rate recommending the stock and a +25.2% average return per CRM rating. Overall, Baldry has a 63% overall success rate recommending stocks with an +11.8% average return per rating.

On average, the top analyst consensus for Salesforce.com on TipRanks is Moderate Buy.