Goldman Sachs Starts Ariba (ARBA) at Neutral

Goldman Sachs initiates coverage on Ariba (NASDAQ: ARBA) with a Neutral rating and $33 price target.

The firm sees shares perform in line with SaaS peers, citing current valuation and perception challenges associated with slowing bookings growth.

"Despite our positive view on the company’s growth profile, competitive position, and long-term leverage profile, near-term sentiment is unlikely to improve relative to the group", the analyst said.

For an analyst ratings summary and ratings history on Ariba click here. For more ratings news on Ariba click here.

Shares of Ariba closed at $30.22 yesterday.

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