While Altair Engineering Inc has underperformed by -1.84%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALTR rose by 81.23%, with highs and lows ranging from $113.12 to $57.59, whereas the simple moving average jumped by 21.48% in the last 200 days.
On August 02, 2024, Goldman Downgraded Altair Engineering Inc (NASDAQ: ALTR) to Sell. A report published by JP Morgan on July 15, 2024, Downgraded its rating to ‘Neutral’ for ALTR. Rosenblatt also Downgraded ALTR shares as ‘Neutral’, setting a target price of $88 on the company’s shares in a report dated February 23, 2024. JP Morgan Initiated an Overweight rating on December 22, 2023, and assigned a price target of $86. Goldman May 05, 2023d its ‘Sell’ rating to ‘Neutral’ for ALTR, as published in its report on May 05, 2023. Needham’s report from November 16, 2022 suggests a price prediction of $60 for ALTR shares, giving the stock a ‘Buy’ rating. Wolfe Research also rated the stock as ‘Outperform’.
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Analysis of Altair Engineering Inc (ALTR)
Further, the quarter-over-quarter increase in sales is 5.41%, showing a positive trend in the upcoming months.
One of the most important indicators of Altair Engineering Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 3.78% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.11, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and ALTR is recording 428.51K average volume. On a monthly basis, the volatility of the stock is set at 3.93%, whereas on a weekly basis, it is put at 4.66%, with a gain of 1.86% over the past seven days. Furthermore, long-term investors anticipate a median target price of $93.62, showing decline from the present price of $108.63, which can serve as yet another indication of whether ALTR is worth investing in or should be passed over.
How Do You Analyze Altair Engineering Inc Shares?
The Software – Infrastructure market is dominated by Altair Engineering Inc (ALTR) based in the USA. When comparing Altair Engineering Inc shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 360.42, there is a growth in quarterly earnings of 77.89%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 31.31%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 71.38% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ALTR shares are owned by institutional investors to the tune of 71.38% at present.
