Berenberg Bank Believes Altair Engineering Inc (NASDAQ: ALTR) Won’t Stop Here

By Austin Angelo

In a report issued on May 15, Gal Munda from Berenberg Bank assigned a Buy rating to Altair Engineering Inc (NASDAQ: ALTR), with a price target of $36. The company’s shares opened today at $35.08, close to its 52-week high of $35.43.

Munda wrote:

“We maintain our Buy recommendation with a price target of $36 (from $35).”

According to TipRanks.com, Munda is a 4-star analyst with an average return of 20.7% and a 82.6% success rate. Munda covers the Technology sector, focusing on stocks such as Aspen Technology, Autodesk, and PTC Inc.

Altair Engineering Inc has an analyst consensus of Moderate Buy, with a price target consensus of $34.17.

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The company has a one-year high of $35.43 and a one-year low of $16.55. Currently, Altair Engineering Inc has an average volume of 282.5K.

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Altair Engineering, Inc. engages in the provision of software solutions for product design and development applications. It operates through the Software and Client Engineering Services segments. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools. The Client Engineering Services segment engages in the provision of client engineering services to support customers with long-term, ongoing product design and development expertise. The company was founded by James R. Scapa in 1985 and is headquartered in Troy, MI.