Ariba, Inc. (ARBA) Maintains Buy Rating

Research firm Argus has maintained a Buy rating for Ariba, Inc. (NASDAQ: ARBA), in a report released yesterday. Argus has set a 12-month price target for the company at $15.

Ariba, Inc. reported revenue of $85.7 million in the first-quarter; a 0.5% decline compared to the same period last year. The revenue increased by 1.6% quarter-over-quarter. The company reported an EPS of $0.19 for the quarter.

According to Argus, the selling conditions in the enterprise market are beginning to stabilize after months of weakness, and Ariba is benefiting from strong customer interest in its On Demand spend-management service. The research firm has raised FY10 EPS estimate to $0.77 from $0.75.