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Guggenheim thinks consensus forecasts for Altair too high, downgrades to Sell » 08:48
01/23/20
01/23
08:48
01/23/20
08:48
ALTR

Altair

$39.37 /

+0.02 (+0.05%)

As previously reported,…

As previously reported, Guggenheim analyst Kenneth Wong downgraded Altair to Sell from Neutral with a $32 price target. The shares are now trading above the levels of prior to the company's third quarter report despite Altair reporting weakness in the underlying business, Wong noted. He estimates that organic growth in the second half of 2019 declined 2% and he finds it hard to project growth will snap back to the high-single digits in the first half and to 11% in the second half of 2020 as the consensus view forecasts, Wong tells investors. About 35% of Altair's revenue is generated from autos and he thinks that concentrated auto exposure is unlikely to be fully offset elsewhere, Wong added.

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Downgrade
Altair downgraded to Sell from Neutral at Guggenheim » 06:17
01/23/20
01/23
06:17
01/23/20
06:17
ALTR

Altair

$39.37 /

+0.02 (+0.05%)

Guggenheim analyst…

Guggenheim analyst Kenneth Wong downgraded Altair to Sell from Neutral with a $32 price target.

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Over a week ago
Recommendations
Altair price target raised to $44 from $38 at Needham » 09:14
01/17/20
01/17
09:14
01/17/20
09:14
ALTR

Altair

$39.13 /

-0.3 (-0.76%)

Needham analyst Richard…

Needham analyst Richard Valera raised his price target on Altair to $44 and kept his Buy rating after his meeting with its CEO James Scapa and CFO Howard Morofat at the Needham Growth Conference. The analyst says the discussion reflected the company's "generally strong fundamentals and multiple promising product drivers". Valera adds that while Scapa saw the Auto segment as a continued headwind for Altair this year, he was optimistic about the trajectory of its overall business.

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Hot Stocks
Altair acquires newFASANT, terms not disclosed » 08:02
01/06/20
01/06
08:02
01/06/20
08:02
ALTR

Altair

$36.66 /

-0.15 (-0.41%)

Altair announced the…

Altair announced the acquisition of newFASANT, offering technology in computational and high-frequency electromagnetics. newFASANT's solutions address a wide range of electromagnetic problems in areas such as antenna design and placement, radar cross section analysis, automotive V2V/ADAS, and infrared/thermal signatures. Originally a spin-off from the University of Alcala, near Madrid, newFASANT is home to world renowned industry pioneers. Its software portfolio containing various full-wave and high frequency asymptotic electromagnetic solvers, when combined with Altair Feko, will allow Altair to leapfrog its competition and offer advanced solutions in relevant technology areas like V2V, Doppler effects, radome analysis, periodic structures, reflectarrays and others.

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Over a month ago
Conference/Events
Altair management to meet with William Blair » 04:55
12/02/19
12/02
04:55
12/02/19
04:55
ALTR

Altair

$33.12 /

-0.63 (-1.87%)

Meeting to be held in…

Meeting to be held in Denver, CO on December 2 hosted by William Blair.

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Conference/Events
Altair management to meet with William Blair » 07:35
11/26/19
11/26
07:35
11/26/19
07:35
ALTR

Altair

$32.01 /

-0.17 (-0.53%)

Meeting to be held in…

Meeting to be held in Denver, CO on December 2 hosted by William Blair.

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Initiation
Altair initiated with a Neutral at Goldman Sachs » 04:57
11/12/19
11/12
04:57
11/12/19
04:57
ALTR

Altair

$28.83 /

-1.17 (-3.90%)

Goldman Sachs analyst…

Goldman Sachs analyst Brian Essex initiated coverage of Altair Engineering with a Neutral rating and $34 price target. The company's profitability and cash flow remain below peer levels, which is appropriately reflected in its valuation, Essex tells investors in a research note. He believes a "more prominent inflection" in revenue growth, margin expansion, or cash flow acceleration is needed to drive meaningful upside from current share levels.

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Downgrade
Altair downgraded to Market Perform from Outperform at William Blair » 08:15
11/08/19
11/08
08:15
11/08/19
08:15
ALTR

Altair

$37.54 /

-0.22 (-0.58%)

William Blair analyst…

William Blair analyst Bhavan Suri downgraded Altair Engineering to Market Perform from Outperform saying the company missed across all relevant metrics in Q3. The analyst, given the lingering macroeconomic factors effecting the automotive industry outside the company's control, prefers to wait until the "picture clears up" before recommending the shares again to investors.

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Recommendations
Altair price target lowered to $30 from $34 at JPMorgan » 08:01
11/08/19
11/08
08:01
11/08/19
08:01
ALTR

Altair

$37.54 /

-0.22 (-0.58%)

JPMorgan analyst Jackson…

JPMorgan analyst Jackson Ader lowered his price target for Altair to $30 from $34 and keeps an Underweight rating on the name. Another guide down is likely to "take another chunk out of shares" with the automotive sector providing most of the overhang, Ader tells investors in a post-earnings research note. The analyst believes his thesis that the company's cash flow and EBITDA margin profile will now allow the company to keep up the pace of investment required to sustain growth targets is playing out.

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Earnings
Altair cuts FY19 revenue view to $449M-$453M from $460M-$464M  16:29
11/07/19
11/07
16:29
11/07/19
16:29
ALTR

Altair

$37.50 /

-0.26 (-0.69%)

Consensus $470.91M.

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