In a report released yesterday, Kenneth Wong from Guggenheim upgraded Altair Engineering (ALTR) to Hold. The company’s shares closed last Friday at $65.44, close to its 52-week high of $69.00.
According to TipRanks.com, Wong is a 4-star analyst with an average return of 24.0% and a 60.6% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Veeva Systems, and Guidewire.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Altair Engineering with a $66.33 average price target.
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The company has a one-year high of $69.00 and a one-year low of $30.88. Currently, Altair Engineering has an average volume of 297K.
Based on the recent corporate insider activity of 161 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALTR in relation to earlier this year.
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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.
