The stock of e-commerce infrastructure company Netopia (Nasdaq: NTPA), which provides communications equipment and e-commerce platforms to online businesses, climbed 21.5 percent, gaining 9-3/16 to 52 on Monday. The climb came after Netopia announced an alliance with Virgin Biznet, a service for small businesses looking to get online. Netopia will provide technology that will help users of Virgin Biznet launch Web sites and online storefronts.
On Friday, Netopia announced that Cendant, the world’s largest hotel franchisor, has tapped it to develop Web sites for franchisees of four Cendant brands: Travelodge, Ramada Inn, Days Inn and Howard Johnson. After the announcement, BancBoston Robertson Stephens reiterated its buy rating and $55 12-month price target on Netopia.
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