Fintel reports that on December 22, 2023, JP Morgan initiated coverage of Altair Engineering (NasdaqGS:ALTR) with a Overweight recommendation.
Analyst Price Forecast Suggests 7.23% Downside
As of December 16, 2023, the average one-year price target for Altair Engineering is 77.26. The forecasts range from a low of 64.64 to a high of $89.25. The average price target represents a decrease of 7.23% from its latest reported closing price of 83.29.
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The projected annual revenue for Altair Engineering is 620MM, an increase of 3.02%. The projected annual non-GAAP EPS is 0.87.
What is the Fund Sentiment?
There are 481 funds or institutions reporting positions in Altair Engineering. This is an increase of 3 owner(s) or 0.63% in the last quarter. Average portfolio weight of all funds dedicated to ALTR is 0.25%, a decrease of 3.22%. Total shares owned by institutions increased in the last three months by 9.27% to 67,245K shares. The put/call ratio of ALTR is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Matrix Capital Management Company holds 11,300K shares representing 13.84% ownership of the company. In it’s prior filing, the firm reported owning 11,174K shares, representing an increase of 1.12%. The firm decreased its portfolio allocation in ALTR by 13.88% over the last quarter.
Pictet Asset Management Holding holds 3,571K shares representing 4.37% ownership of the company.
Pictet Asset Management holds 3,516K shares representing 4.31% ownership of the company. In it’s prior filing, the firm reported owning 3,684K shares, representing a decrease of 4.78%. The firm increased its portfolio allocation in ALTR by 63.55% over the last quarter.
Conestoga Capital Advisors holds 2,410K shares representing 2.95% ownership of the company. In it’s prior filing, the firm reported owning 2,369K shares, representing an increase of 1.66%. The firm decreased its portfolio allocation in ALTR by 9.20% over the last quarter.
Impax Asset Management Group holds 2,131K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 1,993K shares, representing an increase of 6.47%. The firm decreased its portfolio allocation in ALTR by 1.98% over the last quarter.
Altair Engineering Background Information
(This description is provided by the company.)
Altair is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future.
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