Altair Engineering Inc (NASDAQ:ALTR) traded at $104.52 at close of the session on current trade day and made an upward move of 0.51% on its previous day’s price.
Looking at the stock we see that its previous close was $103.99 and the beta (5Y monthly) reads 1.454 with the day’s price range being $103.89 – $104.71. The company has a trailing 12-month PE ratio of 278.20. In terms of its 52-week price range, ALTR has a high of $113.12 and a low of $65.25. The company’s stock has gained about 11.70% over that past 30 days.
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Altair Engineering Inc has a market cap of $8.90 billion and is expected to release its quarterly earnings report in December. Estimates by analysts give the company expected earnings per share (EPS) of 0.51, with the EPS growth for the year raised at 1.29 for current year and 1.29 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 182.77M, with a low of 171M and a high of 186.1M. The median projection represents growth squeezing down to 6.60% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 654.67M, or 6.80% up from figures reported last year.
On the other hand, looking at the outlook for the ALTR stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy.
Based on estimates by 5 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the Altair Engineering Inc (ALTR) stock as a Hold, while 3 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the ALTR stock currently stands at 23.18, and the current price level is 3.92% off its SMA20 and 10.19% from its 50-day simple moving average. The RSI (14) is pointing at 59.21 while the volatility over the past week is 1.17% and jumps to 3.57% over the past one month. The beta value is 1.46, while the average true range (ATR) is currently pointing at 3.47. The average price target for the stock over the next 12 months is $106.5, with the estimates having a low of $100 and a high of $113. These price ends are 4.32% and -8.11% off the current price level respectively, although investors could be excited at the prospect of a -1.89% if the ALTR share price touches on the median price of $106.5.
Coming back to Altair Engineering Inc (NASDAQ:ALTR), we note that the average 3-month trading volume was 573.95K, while that of the preceding 10-day period stands at 1.84 million. Current shares outstanding are 85.18 million.
The insiders hold 31.15% of the company’s shares while institutions hold 70.96%. The data shows that short shares as of 2024-10-15, stood at 4.55 million at a short ratio of 14.16. This represents a 1130.00 short interest in shares outstanding on 2024-10-15. Shares short fall in October from the previous month at 4.83 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 24.21% up in year-to-date price movement.
