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Wait 3 Days Before Trading Salesforce.com: Pro Trader
23 Feb 2012 EST - CNBC.com
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In the after market, the Fast Money traders were closely looking at the action in Salesforce.com, which popped on better than expected earnings.Shares gained as much as 10% after the firm’s results showed margins were better than expected and bookings were better than expected.“All great things until you come to the valuations,” says top trader Guy Adami. “At 83 times earnings you have to ask yourself do you chase this stock?”

In other words, was the quarter strong enough for the stock to trade at an even higher multiple?Here’s how you tell. Trader Brian Kelly says “wait 3 days and see if the gap higher on Friday holds.”If it does, then you can assume the market is comfortable with an even higher P/E ratio.Looking at the numbers a little more closely, the company reported a fourth-quarter profit, excluding certain items, of 43 cents per share, beating the 40 cent average estimate of analysts polled by Thomson Reuters I/B/E/S.

Quarterly revenue rose 38 percent from a year earlier to $632 million, beating the $624 million expected by analysts--------

Meanwhile the traders were skeptical of Deckers after the latest earnings disappointed the Street.

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