Altair Engineering (NASDAQ:ALTR) surpasses Zacks Consensus Estimate with third-quarter earnings per share of $0.24.
The stock price of ALTR reflects a decrease, currently at $108.63, amidst market volatility.
Despite a downgrade by William Blair, Altair’s strong financial health and growth potential may continue to attract investors.
Altair Engineering (NASDAQ:ALTR) is a global technology company that provides software and cloud solutions in the areas of product development, high-performance computing, and data analytics. The company competes with other tech firms like ANSYS and Dassault Systèmes. On October 30, 2024, William Blair downgraded ALTR from “Buy” to “Market Perform,” with the stock priced at $108.63.
Despite the downgrade, Altair Engineering has shown strong financial performance. The company reported third-quarter earnings per share of $0.24, surpassing the Zacks Consensus Estimate of $0.16. This is a significant improvement from the $0.14 per share reported in the same quarter last year, indicating robust financial health and growth.
The stock price of ALTR is currently $108.63, reflecting a decrease of 1.84% or $2.04. Today, the stock has fluctuated between $107.87 and $110.60. Over the past year, ALTR has seen a high of $113.12 and a low of $57.59, showing considerable volatility in its stock price.
Altair Engineering’s market capitalization stands at approximately $9.22 billion, indicating its substantial size in the tech industry. The trading volume for ALTR today is 860,457 shares, suggesting active investor interest. Despite the recent downgrade, the company’s strong earnings performance may continue to attract investors.
