NEW YORK ( TheStreet) -- Ariba (Nasdaq: ARBA) hit a new 52-week high Friday as it traded at $31.40 compared with its previous 52-Week high of $31.27. Ariba is changing hands at $31.40 with 225,543 shares traded as of 11:36 a.m. ET. Average volume has been 1.1 million shares over the past 30 days. Ariba has a market cap of $2.9 billion and is part of the technology sector and internet industry. Shares are up 31% year to date as of the close of trading on Thursday. Ariba, Inc., together with its subsidiaries, provides collaborative business commerce solutions for buying and selling goods and services. The company has a P/E ratio of 111.8, above the average internet industry P/E ratio of 51.3 and above the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Ariba as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Ariba Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.