While Altair Engineering Inc has overperformed by 0.26%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALTR rose by 14.63%, with highs and lows ranging from $92.92 to $57.59, whereas the simple moving average jumped by 8.54% in the last 200 days.
On February 23, 2024, Rosenblatt Downgraded Altair Engineering Inc (NASDAQ: ALTR) to Neutral. A report published by JP Morgan on December 22, 2023, Initiated its previous ‘Overweight’ rating for ALTR. Goldman also Upgraded ALTR shares as ‘Neutral’, setting a target price of $67 on the company’s shares in a report dated May 05, 2023. Needham Initiated an Buy rating on November 16, 2022, and assigned a price target of $60. Wolfe Research initiated its ‘Outperform’ rating for ALTR, as published in its report on August 17, 2022. Oppenheimer’s report from July 27, 2022 suggests a price prediction of $60 for ALTR shares, giving the stock a ‘Outperform’ rating. Goldman also rated the stock as ‘Sell’.
Analysis of Altair Engineering Inc (ALTR)
Further, the quarter-over-quarter increase in sales is 6.90%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Altair Engineering Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -1.39% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.15, 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.
An average volume of 400.55K can be a very valuable indicator of volatility for ALTR stock. On a monthly basis, the volatility of the stock is set at 2.69%, whereas on a weekly basis, it is put at 2.42%, with a loss of -3.47% over the past seven days. Furthermore, long-term investors anticipate a median target price of $93.57, showing growth from the present price of $80.77, 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?
In addition to the fundamentals, you should also consider how many employees own shares in 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 33.62%. 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 65.95% 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 65.95% at present.
