Needham Maintains a Buy Rating on Altair Engineering Inc (ALTR)

By Ryan Adsit

Needham analyst Richard Valera maintained a Buy rating on Altair Engineering Inc (ALTRResearch Report) today and set a price target of $40. The company’s shares opened today at $34.01.

According to TipRanks.com, Valera is a 5-star analyst with an average return of 9.7% and a 62.6% success rate. Valera covers the Consumer Goods sector, focusing on stocks such as Cadence Design, Harmonic Inc, and ViaSat.

The word on The Street in general, suggests a Hold analyst consensus rating for Altair Engineering Inc with a $37 average price target.

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The company has a one-year high of $43.99 and a one-year low of $25.28. Currently, Altair Engineering Inc has an average volume of 508.4K.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock.

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Altair Engineering, Inc. engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services.