Altair Engineering (ALTR) Scheduled to Post Earnings on Thursday

Altair Engineering (NASDAQ:ALTR - Get Free Report) is scheduled to 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.Investors that are interested in participating in the company's conference call can do so using this link.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The firm had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. 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 Trading Down 0.3 %

Shares of ALTR traded down $0.28 during midday trading on Thursday, hitting $83.18. 369,063 shares of the stock traded hands, compared to its average volume of 409,071. Altair Engineering has a 1-year low of $57.59 and a 1-year high of $92.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The business's 50 day moving average price is $84.18 and its two-hundred day moving average price is $78.59.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price target on shares of Altair Engineering in a research report on Thursday, March 21st. Rosenblatt Securities reiterated a "neutral" rating and issued a $88.00 price target (up from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Monday, March 25th. Finally, Oppenheimer boosted their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.00.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total value of $52,080.00. Following the completion of the sale, the director now directly owns 18,895 shares in the company, valued at $1,587,180. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Ralph Scapa sold 10,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the transaction, the chief executive officer now owns 103,591 shares of the company's stock, valued at $9,434,032.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 161,830 shares of company stock valued at $13,876,320. 21.75% of the stock is currently owned by company insiders.

Altair Engineering Company Profile

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.