While technology stocks struggled on Thursday and Friday, shares of e-commerce infrastructure company Art Technology (Nasdaq: ARTG) were strong on both days. Art Technology stock climbed more than 13 percent on Friday, gaining 3-15/16 to 34 after receiving an outperform rating from First Union Capital.
First Union gave Art Technology a 12-month price target of $35, and the stock actually soared past that and traded as high as 37 before giving back some of its gains on Friday. Art Technology stock could still have some room to climb. Recently, U.S. Bancorp Piper Jaffray, which was a co-manager of Art Technology’s July initial public offering, gave the stock a strong buy rating and a price target of $50.