There was a scene in the US market that attracted the attention of all investors. Shares in one of the most dynamic software companies shot up by almost 40% in a single day after the firm reported results that far exceeded Wall Street's expectations. Revenues are growing at over 20% a year, its core cloud platform is bringing in billions in revenue, and analysts are calling it one of the major data infrastructure players for the artificial intelligence era. But the question remains - does the current valuation match reality, or is it a repeat of the familiar story of tech euphoria?

Top points of the analysis

• 40% growth in a single day - The company's stock exploded after the results were released, as all fears of a potential slowdown disappeared from the stock market and were replaced by investor euphoria.
• A record quarter - Revenue reached $591 million, up more than 24% year-on-year and well ahead of consensus. Net earnings per share (EPS) were nearly half of what Wall Street expected.
• At…