Art Technology Group Inc - (ARTG) Message Board

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Technology Stocks : Art Technology Group Inc - (ARTG)

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From: Paul Lee	3/10/2008 11:21:22 PM
	of 167

Art Technology Group Jumps On Roth Capital Upgrade Posted by Eric Savitz Art Technology Group (ARTG) shares are sharply higher this morning after an upgrade from Roth Capital’s Nathan Schneiderman. He raised his rating on the stock today to Buy from Hold, while keeping a $4 price target. Scheniderman notes that the stock had been down 35% year to date, creating “a very attractive entry point.” He points out that the company on February 14 filed an 8-K laying out revenue and profitability targets for 2008, 2009 and 2010 that were way ahead of the Street consensus. The filing shows the company sees revenue of $159 million to $165 million this year, with $205 million in 2009 and $265 million in 2010. (The Street has been at $162 million for this year and $189 million for next year.) While the retailing sector is in a “funk,” he writes, the online channel served by ARTG’s software is “still on fire.” He sees the company earning 9 cents a share this year, and 22 cents in 2009, up from a previous estimate of 16 cents. ARTG this morning is up 45 cents, or 16%, to $3.25.

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