Needham raised the price target for the Altair Engineering Inc. (NASDAQ:ALTR) stock to “a Buy”. The rating was released on November 16, 2022, according to finviz. The research report from Oppenheimer has initiated the stock to Outperform, with a price target set at $60. The stock was downgraded by Goldman, who disclosed in a research note on June 27, 2022, from Neutral to Sell and set the price objective to $41. In their research brief published November 09, 2021, Loop Capital analysts initiated the Altair Engineering Inc. stock to Buy with a price target of $95.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Altair Engineering Inc. (NASDAQ:ALTR) raised 2.14% to close Friday’s market session at $69.57, higher as compared to yesterday’s close. The stock price fluctuated between $67.59 and $70.54 throughout the trading session with the volume trading being 795733 shares, which represented a significant variation when compared to the three months average volume of 306.39K shares. The firm’s stock price fluctuated 9.91% within the last five trades and 19.58% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 45.39% in the last 6 months and 44.91% was added to its value over the previous 3 months. ALTR stock is trading at a margin of 10.22%, 22.01% and 34.24% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
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As of the close of trading, ALTR deals in the Technology domain. The stock is trading 1.73 percent below its 52-week high and 61.15 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 28.35. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Altair Engineering Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -1.20 percent and the profit margin is -7.60 percent, and the company has reported a gross margin of 78.50 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $5.79 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 59.56. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 10.12 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 9.80, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.70 percent of Altair Engineering Inc. shares are owned by insiders, and 99.10 percent are held by financial institutions. Dias Nelson, the Chief Revenue Officer at Altair Engineering Inc. (ALTR) has sold 116 shares of firm on Mar 17 at a price of $68.11 against the total amount of $7901.0. In another inside trade, Gayle Brian, Chief Accounting Officer of Altair Engineering Inc. (NASDAQ:ALTR) sold 79 shares of the firm on Mar 17 for a total worth of $5381.0 at a price of $68.11. An inside trade which took place on Mar 16, Chief Technology Officer of Altair Engineering Inc. Srikanth Mahalingam sold 5,152 shares of firm against total price of $0.35 million at the cost of $67.72 per share.