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Ariba shares jump as RBC upgrades on performance
Monday May 19, 2:58 pm ET

Ariba shares jump as RBC Capital upgrades to "Outperform" on strong performance

NEW YORK (AP) -- Shares of business software company Ariba Inc. jumped Monday after RBC Capital Markets analyst Robert Breza upgraded the company to "Outperform" from "Market Perform" and said it is likely to beat Wall Street estimates in fiscal 2009.
Breza said the company's share price is likely to rise as it continues to e

Caris & Company analyst Chris Shauger today initiated coverage of four enterprise software firms — Ariba (ARBA), Concur Technologies (CNQR), Salesforce.com (CRM), and Taleo (TLEO) — with “Buy,” “Average,” “Above Average,” and “Average” ratings on their shares, respectively. In brief, Shauger says that Ariba and Salesforce stock is cheap, Concur has dominant market share, and Taleo has accounting issues that cause concern for the stock despite a cheap valuation. All the stocks have been held back, he believes by the accounting issues at Taleo, but he thinks the problems with the latter are c

To look at the big picture, you’d think the market was downright tranquil today. The Nasdaq Composite rose 1.22 points, or 0.08%, to 1483.27. Ah, a day when nothing happened. Right? Wrong.

Beneath the surface, there are an eye-opening number of stock continue to post horrible losses, often with no obvious explanation. Clearly, there are hedge funds dumping stocks to raise case, investors getting whacked with margin calls and holders simply bailing out of the increasingly scary looking technology sector in search of more stable ground. (Not sure where that ground would be found, though.) Cons

Ariba (ARBA) shares are down sharply this morning after the company posted results for its fiscal fourth quarter ended September 30 that were short of expectations. Guidance for Q1 also came up short of Street forecasts.

For Q4, the spend management software company posted non-GAAP revenue of $86.4 million, and non-GAAP profits of 15 cents a share. The Street had expected $87.5 million and 17 cents.

On its post-earnings conference call, the company repeated that it expects to earn 70 cents a share in the September 2009 fiscal year, with revenue of $355 million to $370 million.

For Q1, the comp

Ariba (ARBA) shares are down sharply this morning after Cowen’s Peter Goldmacher cut his rating on the stock to Neutral from Outperform.

Goldmacher writes that he remains a fan of the story, but that he is concerned that consensus expectations for organic bookings growth, “the best measure of the health of the business,” are too aggressive. In a research note, he asserts that the customers most likely to drive growth at the company “are taking an increasingly conservative approach to deploying new technology, potentially limiting margin upside to ‘09 estimates.”

ARBA today is down $2.22, or

Art Technology Group (ARTG) shares are up nicely this morning after Roth Capital�s Nathan Schneiderman raised his rating on the stock to Buy from Hold. Schneiderman notes that the e-commerce software provider�s shares have fallen 25% from a recent peak, creating �a very attractive entry point.�

Schneiderman writes in a research note that the stock�s valuation has fallen to just over 10x free cash flow, �a bargain for a profitable growing company.�

�While we understand that macro conditions are a scary backdrop and that many software names have been pummeled, we point to premium valuations for