Ariba to Meet or Slightly Beat Q1 Expecations, CIBC Says
CIBC World Markets said it sees Internet business-to-business company Ariba (ARBA ) meeting or modestly exceeding the first quarter earnings per share estimate of $0.03 when it reports results after the close today.
Analyst Melissa Eisenstat reiterated the strong buy rating on the company. She said trends should continue with a positive bent as e-commerce applications remain high on corporate priority lists.
She said the key driver for the company continues to be Ariba Buyer, a product that remains in high demand. Eisenstat said spending in e-commerce is not immune to a slowdown in information technology spending. The threat is not that IT spending will contract, but that growth will slow, potentially putting pressure on those with aggressive estimates.