ALTR Stock Summary and Trading Ideas (Altair Engineering - Class A | NASDAQ:ALTR)

Altair Engineering Inc is a provider of enterprise-class engineering software enabling origination of the entire product lifecycle from concept design to in-service operation. The integrated suite of software provided by the company optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, system modeling, and embedded systems. It operates through two segments: Software which includes the portfolio of software products such as solvers and optimization technology products, modeling and visualization tools, industrial and concept design tools, and others; and Client Engineering Services which provides client engineering services to support customers. Majority of its revenue comes from the software segment.

Altair Engineering - Class A trades on the NASDAQ stock market under the symbol ALTR.

As of April 19, 2024, ALTR stock price climbed to $82.32 with 393,963 million shares trading.

ALTR has a beta of 1.86, meaning it tends to be more sensitive to market movements. ALTR has a correlation of 0.46 to the broad based SPY ETF.

ALTR has a market cap of $6.79 billion. This is considered a Mid Cap stock.

Last quarter Altair Engineering - Class A reported $172 million in Revenue and $.46 earnings per share. This fell short of revenue expectation by $-1 million and exceeded earnings estimates by $.05.

In the last 3 years, ALTR stock traded as high as $92.92 and as low as $43.17.

The top ETF exchange traded funds that ALTR belongs to (by Net Assets): VTI, VB, IWM, VXF, VBK.

ALTR has underperformed the market in the last year with a return of +17.6%, while the SPY ETF gained +21.2%. In the last 3 month period, ALTR fell short of the market, returning -4.0%, while SPY returned +3.0%. However, in the most recent 2 weeks ALTR has outperformed the stock market by returning -2.7%, while SPY returned -4.5%.

ALTR support price is $79.21 and resistance is $82.33 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALTR stock will trade within this expected range on the day.