Why TIBCO Software (TIBX) Stock Is Up in After-Hours Trading Today

NEW YORK (TheStreet) -- Shares of TIBCO Software  (TIBX) rose 5.99% to $22.30 in after-hours trading Wednesday after the company announced a broad strategic review of possible financial alternatives.

The company started the review on Aug. 16.

"Following a detailed evaluation over the past several months, we have determined that it is prudent to undertake a wide review of strategic and financial options to see which alternative or alternatives, including our standalone plans, are in fact the best way to maximize shareholder value," said TIBCO Chairman and CEO Vivek Ranadive in a statement.

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"Regardless of the outcome of the Special Committee's review, the entire TIBCO team is fully committed to meeting the needs of our customers and continuing to provide them with industry-leading solutions," Ranadive continued. "We remain focused on innovating and expanding our exceptional product portfolio while executing on the strategic and operational initiatives we announced earlier this year."

Separately, TheStreet Ratings team rates TIBCO SOFTWARE INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate TIBCO SOFTWARE INC (TIBX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."

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