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Technology Stocks : Ariba Technologies (Nasdaq-ARBA)
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To: cyberman who wrote (1422)11/17/2000 6:35:53 PM
From: Yamakita  Read Replies (2) of 2110
 
Ariba Has Never Been Cheaper
11/16/00

By Mark Verbeck

Managing Director, Senior Analyst
Timothy Madda
Associate

If you've ever considered buying Ariba, now's a great time. Ariba has never traded as cheaply on a multiple of its projected FY01 revenue as it does now. Ariba currently trades at 25x our estimate.


Estimates of Ariba's revenue keep increasing as the company delivers, quarter after quarter.

The company's valuation has not kept pace with its exceptional business execution. Since its IPO, Ariba has proven the strength of its business model and we feel an investment in the stock is far less speculative today.

We believe that Ariba's business is stronger than ever and that recent concerns over emerging competition are overblown.

Ariba and other established players in the space enjoy a huge lead over smaller, less proven procurement offerings.

We believe much of the recent pressure on the stock is due to concerns that Andersen Consulting will no longer be promoting the Ariba solution in the wake of Andersen's announced relationship with Rightworks/ICG Commerce.

Andersen derives a significant amount of revenue from its deployment of Ariba-trained staff at its large corporate clients. We believe the fact that Ariba is currently training 500 consultants a month demonstrates that the business is healthy. Further, we do not believe Andersen's announcement will change its existing relationship with Ariba.

Read our full company report on Ariba.
Read our comments on Ariba's strong fourth quarter.

epoch.com
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