What happened Shares of MuleSoft, Inc. (NYSE: MULE) gained 16.1% in October, according to data provided by S&P Global Market Intelligence. The company's stock climbed on favorable ratings coverage and held on to its gains following a solid quarterly report late in the month. Image source: Getty Images. So what With a market cap of roughly $3 billion and a growth-dependent valuation, MuleSoft can post significant movement in relation to new ratings coverage. The enterprise cloud software company received a fresh round of favorable coverage last month. On Oct. 9, Goldman Sachs published a note upgrading the stock from a "neutral" rating to a "buy" and changed its price target from $24 to $26. Oct. 11 saw Bidask Club upgrade its rating on the stock from "sell" to "hold." Cannaccord Genuity also upgraded the stock from "hold" to "buy" on Oct. 23 and raised its price target from $24 to $29. Now what The company released its third-quarter report on Oct. 26 and delivered 57% year over year sales growth -- far ahead of the average analyst growth estimate of 47%. It also raised its annual revenue guidance by roughly $11 million -- putting its target for the fiscal year at between $290 million and $292 million. Shares didn't move much following the earnings release, but a solid revenue beat in the last quarter, upward revisions for its sales targets, and an in-demand product point to sustained sales momentum. MuleSoft currently has a leading offering in its corner of the enterprise software space -- with its Anypoint Platform providing a way to connect applications, data sources, and devices through a unified interface, and the stock could post big growth if the company continues to successfully move upmarket. Even after posting big gains in October, shares still trade down roughly 5% from their closing price on the day of the company's March IPO. 10 stocks we like better than MuleSoft, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and MuleSoft, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of November 6, 2017Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.