Ariba Climbs on InterWorld Deal

The stock of e-commerce software company Ariba (Nasdaq: ARBA) has been one of the year’s top performers, and things could be getting even hotter for the stock. Shares of Ariba climbed 13-3/8 to 210 on Monday after the company announced a deal with enterprise commerce software company InterWorld (Nasdaq: INTW). Ariba and InterWorld will weave some of their technology together and jointly invest in marketing and sales tools to promote the company’s combined solutions. Shares of InterWorld gained 8-1/8 to 67-7/8 on Monday.

Ariba, which went public in June at $23, has seen its stock climb more than 800 percent so far this year, and at least one analyst believes the stock could climb even higher. On Monday, SG Cowen upgraded Ariba from buy to strong buy and gave the stock a 12-month price target of $250.

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