Altair Engineering (NASDAQ: ALTR) has recently received a range of ratings from analysts, showcasing a mix of optimistic and cautious viewpoints.
In the last month, 4 analysts have weighed in on the stock, with 2 considering it somewhat bullish, 2 indifferent, and none firmly bullish or bearish. The average 12-month price target stands at $91.0, with a high estimate of $100.00 and a low estimate of $86.00, indicating a 7.69% increase from the previous average target of $84.50.
Notable recent analyst actions include RBC Capital’s Matthew Hedberg maintaining a “Sector Perform” rating with a $90.00 price target, Oppenheimer’s Ken Wong upgrading the rating to “Outperform” with a $100.00 price target, Rosenblatt’s Blair Abernethy raising the rating to “Neutral” with an $88.00 price target, and JP Morgan’s Stephen Tusa announcing an “Overweight” rating with an $86.00 price target.
Overall, Altair Engineering has garnered a consensus rating of Moderate Buy based on 5 buy ratings and 2 hold ratings. Barron’s reports an average price target of $75.75 from 10 ratings, while The Wall Street Journal shows current analyst ratings as 7 Buy, 3 Hold, and 0 Sell.
In conclusion, analysts’ outlook on Altair Engineering’s future appears positive, with varying levels of bullish sentiment reflected in their ratings and price targets in recent months.
ALTR Stock Price Drops 4.37% on February 23, 2024: What Investors Need to Know
On February 23, 2024, ALTR stock experienced a significant drop in price, closing at $83.56, a decrease of $3.92 or 4.37% from the previous day’s close. Despite this drop, ALTR is still trading near the top of its 52-week range and above its 200-day simple moving average. Investors should closely monitor the price momentum of ALTR in the coming days to see if this drop is part of a larger trend or just a temporary setback. Conducting further research on ALTR, including looking at the company’s financial health, growth prospects, and competitive position in the industry, will help investors make informed decisions about their investments in the stock. Overall, while ALTR has experienced a drop in price on February 23, 2024, investors should take a long-term view and consider the broader market context before making any decisions about their investments in the stock.
ALTR Stock Performance: Mixed Results in Financial Report for Past Year and Third Quarter
On February 23, 2024, ALTR stock experienced mixed performances as the company reported its financial results for the past year and the third quarter. According to data from CNN Money, ALTR’s total revenue for the past year was $572.22 million, showing a 7.52% increase compared to the previous year. However, the total revenue for the third quarter was $134.00 million, indicating a 5.07% decrease compared to the previous quarter.
In terms of net income, ALTR reported a net loss of $43.43 million for the past year, which represents a significant decrease of 393.85% compared to the previous year. However, the net loss for the third quarter was $4.36 million, showing an increase of 80.42% compared to the previous quarter.
Earnings per share (EPS) also showed mixed results for ALTR stock. The EPS for the past year was -$0.55, indicating a decrease of 373.57% compared to the previous year. On the other hand, the EPS for the third quarter was -$0.05, showing an increase of 80.55% compared to the previous quarter.
Overall, ALTR stock performances on February 23, 2024, were influenced by the company’s financial results for the past year and the third quarter. Investors may have reacted differently to the mixed results, with some focusing on the increase in total revenue for the past year, while others may have been concerned about the significant net loss reported for the same period.
