In a report released yesterday, Blair Abernethy from Rosenblatt Securities maintained a Buy rating on Altair Engineering (ALTR – Research Report). The company’s shares closed yesterday at $49.76.
Abernethy covers the Technology sector, focusing on stocks such as Autodesk, Ansys, and Splunk. According to TipRanks, Abernethy has an average return of -1.1% and a 44.86% success rate on recommended stocks.
Altair Engineering has an analyst consensus of Moderate Buy, with a price target consensus of $63.20.
See Insiders’ Hot Stocks on TipRanks >>
Based on Altair Engineering’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $132.66 million and a GAAP net loss of $33.77 million. In comparison, last year the company earned a revenue of $119.91 million and had a GAAP net loss of $13.65 million
Based on the recent corporate insider activity of 120 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALTR in relation to earlier this year. Last month, Earhart Stephen P, a Director at ALTR bought 4,000.00 shares for a total of $20,720.00.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Altair Engineering, Inc. engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools. The Client Engineering Services segment engages in the provision of client engineering services to support customers with long-term, ongoing product design and development expertise. The company was founded by James R. Scapa in 1985 and is headquartered in Troy, MI.
Read More on ALTR:
- POINT Biopharma Prices Public Offering of Common Stock
- Kepler Capital Keeps Their Buy Rating on Siemens Energy (SMEGF)
- New Buy Rating for Vale SA (VALE), the Basic Materials Giant
- Australian Stock Market Today – Wednesday September 14: What You Need to Know
- Morgan Stanley Sticks to Its Sell Rating for Ramsay Health Care (RMSYF)
