Altair Engineering (ALTR) Scheduled to Post Quarterly Earnings on Thursday

Altair Engineering (NASDAQ:ALTR) will be posting its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Altair Engineering to post earnings of $0.35 per share for the quarter. Altair Engineering has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The business had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. On average, analysts expect Altair Engineering to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Altair Engineering Stock Down 0.4 %

Shares of NASDAQ ALTR opened at $83.45 on Thursday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -641.92, a P/E/G ratio of 10.96 and a beta of 1.42. Altair Engineering has a 12-month low of $57.59 and a 12-month high of $92.92. The firm’s 50-day moving average price is $84.18 and its 200-day moving average price is $78.59. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALTR shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a research note on Friday, February 23rd. Oppenheimer upped their price objective on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. JPMorgan Chase & Co. upped their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Monday, March 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Insider Buying and Selling at Altair Engineering

In other news, CEO James Ralph Scapa sold 10,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the transaction, the chief executive officer now directly owns 103,591 shares of the company’s stock, valued at $9,434,032.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO James Ralph Scapa sold 10,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the transaction, the chief executive officer now directly owns 103,591 shares in the company, valued at approximately $9,434,032.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Matthew Charles Brown sold 4,363 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $83.65, for a total value of $364,964.95. Following the completion of the sale, the chief financial officer now owns 48,742 shares of the company’s stock, valued at $4,077,268.30. The disclosure for this sale can be found here. Insiders sold a total of 161,830 shares of company stock worth $13,876,320 over the last three months. Corporate insiders own 21.75% of the company’s stock.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.