NEW YORK (TheStreet) -- Shares of NetSuite (N) are spiking 18.04% to $108.09 on heavy trading volume Thursday afternoon after Oracle (ORCL) offered to purchase the cloud-based software services provider in a deal valued at $9.3 billion.

Oracle made an offer of $109 per share for NetSuite, representing a 19% premium to the stock's closing price on Wednesday.

The transaction is expected to close this year and be "immediately accretive" to Oracle's adjusted earnings thereafter.

Additionally, NetSuite reported adjusted earnings of 8 cents per share on revenue of $230.8 million for the 2016 second quarter earlier today.

The results beat analysts' estimates of per-share earnings of 3 cents on $230.6 million in revenue.

About 18.05 million shares of NetSuite have been traded so far today vs. its average trading volume of roughly 1.14 million shares per day. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

NetSuite's weaknesses include its deteriorating net income, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: N

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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