NEW YORK (TheStreet) -- Shares of Qlik Technologies (QLIK) are spiking by 9.07% to $29.11 in pre-market trading on Monday, as the company is exploring strategic alternatives, including a sale of itself, after being pressured by an activist shareholder, according to sources cited by Reuters.
Last month, Elliott Management Corp. revealed an 8.8% stake in the Radnor, PA-based company and said the provider of user-driven, business intelligence solutions should be taken over by a larger technology rival.
Qlik is working with investment bank Morgan Stanley (MS) on the possible sale, the sources added, however, it is uncertain if the company will sell itself.
Analysts have said Oracle Corp. (ORCL) and IBM Corp. (IBM) could be possible buyers, Reuters noted.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by some concerns, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself, deteriorating net income and feeble growth in its earnings per share.
Recently, 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 articles's author.
You can view the full analysis from the report here: QLIK