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Altair Engineering Inc. Class A Common Stock | ALTR

Daily Technical Analysis of Altair Engineering Inc. Class A Common Stock

Altair Engineering is up a bit on the day, funds flowing in kept the price up 1.34% since yesterday.

Altair Engineering doesn't seem to be at a very clear reversal point in either direction. Altair Engineering has been drifting up over the last few months, we'll see if it has the energy to keep moving in the right direction. ALTR might find some support at the 75.99 level, buyers might push the price back up from here. But it's not very clear what will happen.


Last analyzed on 2024-03-17

Analyst Ratings for Altair Engineering By Price Target And Rating

The analysts feel fairly neutral on the prospects for Altair Engineering but a little more positive than negative. The current Analysts Sentiment Score is 16.97. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. Rosenblatt Securities downgraded from Buy to Neutral on 2024-02-23 but moved up their price target to $88.00 which is a 18.92% increase. Oppenheimer gave a boost to their price target and moved to $100.00 from $95.00 on 2024-02-23. Royal Bank of Canada announced that they are reiterating a rating of Sector Perform on 2024-02-23 and added a price target of $90.00. JPMorgan Chase & Co. announced that they are initiating coverage with a rating of Overweight on 2023-12-22 and they set their price target at $86.00.Needham & Company LLC announced that they are reiterating a rating of Buy on 2023-08-04 and they set their price target at $77.00. The Goldman Sachs Group upgraded from Sell to Neutral on 2023-05-05 and also increased their price target by 52.27% to $67.00. 51job announced that they are reiterating a rating of Maintains on 2023-05-05. Loop Capital decided to move up their price target on 2023-04-18 to $81.00 which is a 15.71% increase.

Company Ratings Score ?
Composite analyst sentiment score
Positive Ratings Negative Ratings Boost Price Target Lower Price Target
ALTR16.9743.98-69.1759.150

Earnings Per Share (EPS) Estimates By Year and Quarter

(updated 2024-02-27)
Company YOY Growth Score (typical -20 to +20) Revision Directions (-6 to +6)
ALTR7.010.64

Short interest for Altair Engineering

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Company Short Score (typical 1-15) ?
We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)
Short Interest Days to Cover Rate of Change Shares Short
ALTR7.4%4.887429.65.282670000

How Altair Engineering compares to the broader Technology sector and the more specific Application Software industry

Segment Count 1 Day% 5 Day 1 Month 3 Month 6 Month 1 Year RSI 3mo S-momo ? 6mo S-momo 1yr S-momo Resistance ? Support Demark Sell ? Demark Buy Short Interest Analysts Ratings ?
Application Software

Show Me Companies With:

S-Momentum: Highest | Lowest
1 Day Growth: Highest | Lowest
5 Day Growth: Highest | Lowest
1 Month Growth: Highest | Lowest
6 Month Growth: Highest | Lowest
1230.99-0.33-0.024.4219.1825.7145.8361.3631.9434.45-16474.97-18441.744.4710.164.4055.55
Technology

Show Me Companies With:

S-Momentum: Highest | Lowest
1 Day Growth: Highest | Lowest
5 Day Growth: Highest | Lowest
1 Month Growth: Highest | Lowest
6 Month Growth: Highest | Lowest
3101.880.191.684.7118.3528.0843.5840.1921.2624.19-15332.29-14179.916.378.314.7543.70

Social Sentiment for Altair Engineering

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.

Ticker Social Sentiment(1-10)
ALTR

Companies with the highest correlation to Altair Engineering

Company Score 1 Day% 5 Day 1 Month 3 Month 6 Month 1 Year RSI 3mo S-momo ? 6mo S-momo 1yr S-momo Resistance ? Support Demark Sell ? Demark Buy Short Interest Score
SNPS | Synopsys Inc1.41-1.88-4.76-0.0714.9128.3555.013510.3663.0797.75-1781.09-22996.28001.89543
NOW | SERVICENOW, INC.1.37-2.51-1.83-1.6010.4038.9176.8953101.5268.25126.62-469.37-43752.01001.73847
ANSS | Ansys Inc1.34-0.55-0.084.12-1.4418.219.513813.4410.3616.78-3608.91548.94001.55496
LSCC | Lattice Semiconductor Cor1.312.520.723.9416.42-4.62-11.20361.360.05-5.00-6985.31-2509.40007.46881
PAYC | PAYCOM SOFTWARE, INC.1.313.471.918.13-3.61-23.28-27.7778-60.65-41.37-45.96-47113.96-1762.45001.70052
PEGA | Pegasystems Inc1.3-0.76-1.090.0938.8953.8343.493436.7742.6840.65-1990.81164.22004.23257
CDNS | Cadence Design Systems1.29-1.48-3.552.2918.4334.9853.163990.82107.68124.76-1686.18-29206.82001.51766
WDAY | Workday, Inc. Class A Com1.27-1.36-1.04-7.141.9918.5544.25439.6634.2983.28-1381.12-34766.33001.92172

Top 3 correlating companies

See full charts for all peers

Sentiment Score

How to use: use the research links to research the asset. Then simply type in a score for each category between (01, 02, 03, 04, 05). 05 being the most bullish and 01 being the most bearish. It will automatically calculate the average and combine it with the technical score to create an overall score to rank prospects by. You can also type notes into each field.

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Calculated Sentiment Sum

Score Sum
(1-45)

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Average
(1-5)

+

Pattern Rank
(1-5)

=

Total Score
(1-10)

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