Does Altair Engineering Inc. (ALTR) Have Any Gas After Forming This Wedge Up Chart Pattern?

April 20, 2018 - By Winifred Garcia

Altair Engineering Inc. (NASDAQ:ALTR) Logo

The stock of Altair Engineering Inc. (ALTR) formed an up wedge with $32.24 target or 8.00 % above today’s $29.85 share price. The 7 months wedge indicates low risk for the $1.89 billion company. If the $32.24 price target is reached, the company will be worth $151.04M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.07% or $0.02 during the last trading session, reaching $29.85. About 112,292 shares traded. Altair Engineering Inc. (NASDAQ:ALTR) has 0.00% since April 20, 2017 and is . It has underperformed by 11.55% the S&P500.

Analysts await Altair Engineering Inc. (NASDAQ:ALTR) to report earnings on June, 20. ALTR’s profit will be $1.90 million for 248.75 P/E if the $0.03 EPS becomes a reality. After $0.04 actual EPS reported by Altair Engineering Inc. for the previous quarter, Wall Street now forecasts -25.00 % negative EPS growth.

Altair Engineering Inc. (NASDAQ:ALTR) Ratings Coverage

Among 9 analysts covering Altair Engineering (NASDAQ:ALTR), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. Altair Engineering had 12 analyst reports since November 27, 2017 according to SRatingsIntel. J.P. Morgan initiated the stock with “Hold” rating in Monday, November 27 report. The stock of Altair Engineering Inc. (NASDAQ:ALTR) has “Hold” rating given on Thursday, March 22 by RBC Capital Markets. The firm earned “Buy” rating on Thursday, March 22 by Berenberg. The rating was maintained by Canaccord Genuity with “Hold” on Wednesday, March 21. On Thursday, March 22 the stock rating was maintained by Cowen & Co with “Buy”.

Altair Engineering Inc. (NASDAQ:ALTR) Ratings Chart

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