Altair Engineering Inc., together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates through two segments, Software and Client Engineering Services. Its software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and IoT platform and analytics tools, as well as support and complementary software products. This segment also provides software technologies in the areas of computational fluid dynamics and fatigue, manufacturing process simulation, and cost estimation for the applications in marine, motorcycle, aerospace, chemical, and architecture industries; and software-related services, such as consulting, implementation, and training services focused on product design and development expertise and analysis from the component level up to complete product engineering at various stage of the lifecycle. The Client Engineering Services segment offers client engineering services. Its integrated suite of software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling, and embedded systems. Altair Engineering Inc. was founded in 1985 and is headquartered in Troy, Michigan.
IPO Year: 2017
Exchange: NASDAQ
Website: altair.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/2/2024 | $85.00 → $71.00 | Neutral → Sell | Goldman |
| 7/15/2024 | $95.00 | Overweight → Neutral | JP Morgan |
| 2/23/2024 | $74.00 → $88.00 | Buy → Neutral | Rosenblatt |
| 12/22/2023 | $86.00 | Overweight | JP Morgan |
| 5/5/2023 | $44.00 → $67.00 | Sell → Neutral | Goldman |
| 11/16/2022 | $60.00 | Buy | Needham |
| 8/17/2022 | $70.00 | Outperform | Wolfe Research |
| 7/27/2022 | $60.00 | Outperform | Oppenheimer |
| 6/27/2022 | $62.00 → $41.00 | Neutral → Sell | Goldman |
| 3/7/2022 | $78.00 → $67.00 | Neutral | Goldman Sachs |
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DEFA14A - Altair Engineering Inc. (0001701732) (Filer)
NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S
TROY, Mich., Nov. 2, 2022 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational science and artificial intelligence (AI), announced that Ravi Kunju has been named Altair's chief product and strategy officer. In this role, Kunju will be responsible for the strategy and vision of Altair products, which includes facilitating the development, sales, pricing, and marketing of Altair's solutions for industry verticals and business lines. "For nearly 25 years, Ravi has been an indispensable member in so many areas of our organization, and I am certain that he will co
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TROY, Mich., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), today released its financial results for the third quarter and nine months ended September 30, 2024. Immediately prior to the dissemination of this press release, Altair issued a press release announcing that it has entered into a merger agreement with a subsidiary of Siemens pursuant to which Altair will be acquired and stockholders of Altair will receive cash merger consideration as more fully described in that press release. Third Quarter 2024 Financial Results Software revenue was $138.7 million compared to $119.1 million for the third quarter of 2023, an increase of 16.5% in reported currency an
TROY, Mich., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, today announced that it has entered into a definitive agreement to be acquired by Siemens, a leading technology company focused on industry, infrastructure, mobility, and healthcare. Altair stockholders will receive $113.00 per share in cash, representing an equity value of approximately $10.6 billion. The $113.00 per share cash consideration represents a 19% premium to the closing price of Altair common stock on October 21, 2024, the last trading day prior to media speculation regarding a potential transaction, and a 13% premium to Altair's unaffected all-time high closing
TROY, Mich., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, will release its financial results for the third quarter ended September 30, 2024 after the market close on Wednesday, October 30, 2024. On that day, management will hold a conference call and webcast at 5 p.m. ET to review and discuss the Company's third quarter 2024 results and fourth quarter and full year 2024 outlook. A recorded version of this webcast will be available after the call and accessible at http://investor.altair.com. What:Altair's Third Quarter 2024 Financial Results Conference CallWhen:Wednesday, October 30, 2024Time:5 p.m. ETWebcast:http://investor.altair.
TROY, Mich., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, today released its financial results for the second quarter and six months ended June 30, 2024. "Altair maintained its strong trajectory during the second quarter, with software revenue and total revenue above the high end of guidance," said James R. Scapa, founder, chairman, and chief executive officer, Altair. "Our Q2 results underscore the robustness of our software product lineup, which continues to empower customers with industry-leading computational intelligence." "We are pleased with our execution in the second quarter and first half of the year," said Matt Brown, c
TROY, Mich., July 18, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, will release its financial results for the second quarter ended June 30, 2024, after the market close on Thursday, August 1, 2024. On that day, management will hold a conference call and webcast at 5 p.m. ET to review and discuss the Company's second quarter 2024 results and third quarter and full year 2024 outlook. A recorded version of this webcast will be available after the call and accessible at http://investor.altair.com. What:Altair's Second Quarter 2024 Financial Results Conference CallWhen:Thursday, August 1, 2024Time:5 p.m. ETWebcast:http://investor.altair.com (liv
TROY, Mich., May 02, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, today released its financial results for the first quarter ended March 31, 2024. "Altair continued its positive momentum into the start of 2024, with record-high quarterly software revenue and total revenue," said James R. Scapa, founder, chairman, and chief executive officer, Altair. "The first quarter exceeded our expectations and demonstrates the strength of our product portfolio in bringing computational intelligence to our customers." "The start of this year has been marked by strong execution, setting new records in software revenue and total revenue in the first quart
Flagship solution, FlightStream®, pushes the boundaries of modern computational techniques TROY, Mich., May 1, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR) a global leader in computational intelligence, announced it has acquired Research in Flight, maker of FlightStream®, which provides computational fluid dynamics (CFD) software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery, and automotive applications. FlightStream® is a user-friendly, yet powerful flow solver that bridges the gap between high-fidelity CFD si
TROY, Mich., April 18, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, will release its financial results for the first quarter ended March 31, 2024, after the market close on Thursday, May 2, 2024. On that day, management will hold a conference call and webcast at 5 p.m. ET to review and discuss the Company's first quarter 2024 results and second quarter and full year 2024 outlook. A recorded version of this webcast will be available after the call and accessible at http://investor.altair.com. What:Altair's First Quarter 2024 Financial Results Conference CallWhen:Thursday, May 2, 2024Time:5 p.m. ETWebcast:http://investor.altair.com (live and r
Acquisition expands Altair's data analytics and AI offerings TROY, Mich., April 18, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR) a global leader in computational intelligence, acquired Cambridge Semantics, a modern data fabric provider and creator of one of the industry's leading analytical graph databases. Cambridge Semantics' graph-powered data fabric technology accelerates the creation of comprehensive enterprise knowledge graphs, integrating the complex web of structured and unstructured enterprise data together into a single, simplified view. Bringing together Cambridge Sema
TROY, Mich., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, today released its financial results for the fourth quarter and full year ended December 31, 2023. "Altair finished 2023 with a strong fourth quarter, notching record-high revenue and profit for the quarter and full-year," said James R. Scapa, founder, chairman and chief executive officer of Altair. "We are seeing strong momentum across a number of verticals, where computational intelligence is becoming increasingly important. We are excited about our recent and upcoming product releases and believe that our investments in engineering AI are positioning us as a leader in t
Goldman downgraded Altair Engineering from Neutral to Sell and set a new price target of $71.00 from $85.00 previously
JP Morgan downgraded Altair Engineering from Overweight to Neutral and set a new price target of $95.00
Rosenblatt downgraded Altair Engineering from Buy to Neutral and set a new price target of $88.00 from $74.00 previously
JP Morgan initiated coverage of Altair Engineering with a rating of Overweight and set a new price target of $86.00
Goldman upgraded Altair Engineering from Sell to Neutral and set a new price target of $67.00 from $44.00 previously
Needham initiated coverage of Altair Engineering with a rating of Buy and set a new price target of $60.00
Wolfe Research initiated coverage of Altair Engineering with a rating of Outperform and set a new price target of $70.00
Oppenheimer initiated coverage of Altair Engineering with a rating of Outperform and set a new price target of $60.00
Goldman downgraded Altair Engineering from Neutral to Sell and set a new price target of $41.00 from $62.00 previously
Goldman Sachs reiterated coverage of Altair Engineering with a rating of Neutral and set a new price target of $67.00 from $78.00 previously
Platform empowers users to seamlessly build and deploy advanced AI agents TROY, Mich., Dec. 18, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, announced that Altair® RapidMiner®, its data analytics and artificial intelligence (AI) platform, now empowers users to seamlessly build and deploy advanced AI agents. Organizations can leverage Altair RapidMiner to integrate generative AI (genAI) agents into their workflows, enabling transformative automation and operational intelligence. "Altair RapidMiner, already a trusted platform for mach
TROY, Mich., Dec. 12, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, has announced a partnership with CGI, one of the largest independent IT and business consulting services firms in the world. The partnership aims to accelerate IT modernization and digital transformation for organizations globally. At the heart of this partnership is the innovative data science software found in the Altair® RapidMiner® data analytics and artificial intelligence (AI) platform, including Altair® AI Studio and Altair SLC™, a SAS language compiler. Altai
Altair® FlightStream™ to improve engine performance in a fraction of the time compared to traditional methods TROY, Mich., Dec. 4, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, will work together with Auburn University's Samuel Ginn College of Engineering on a $1.25 million AFWERX Phase II STTR contract. The two organizations will develop analytical models for cyclonic flows, construct computational models, and study the stability of different vortex engines to address the challenges facing public and private sector aerospace organizations.
Altair® HyperWorks® platform empowers Cleveland Golf to break free from traditional design limits TROY, Mich., Nov. 19, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, announced its latest collaboration with Cleveland Golf, a leading golf equipment manufacturer, on the design of the new HiBore XL Driver. With Altair's advanced simulation and design technology, Cleveland Golf is raising the bar for golf equipment and redefining the limits of driver design. "Altair's technology and expertise is helping Cleveland Golf shape the future of
Altair simulations run twice as fast on NVIDIA Hopper series as its predecessor TROY, Mich., Nov. 18, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, announced that several products from the Altair® HyperWorks® design and simulation platform now support NVIDIA Grace CPU and Grace Hopper Superchip architectures. This highlights the years of Altair's deep collaboration with NVIDIA and gives customers more flexibility to run Altair tools on NVIDIA and Arm architectures. "Altair's solutions achieving peak performance on Grace and Grace Hop
The collaboration, established within Altair's Aerospace Startup Acceleration Program (ASAP), will accelerate product development and slash prototyping costs TROY, Mich., Nov. 13, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, has signed a collaboration agreement with aerospace startup Moya Aero as part of Altair's Aerospace Startup Acceleration Program (ASAP). Within the agreement, Moya Aero will leverage an array of solutions in the Altair® HyperWorks® design and simulation platform and the organizations will collaborate in the development of eVTOL and unmanned aerial vehicles.
Altair software available to organizations through ESA Partnership Initiative for Commercialisation (EPIC) TROY, Mich., Nov. 12, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, has entered into collaboration agreement with the European Space Agency (ESA) through the ESA Partnership Initiative for Commercialisation (EPIC). Through a letter of intent, Altair's aerospace technology within the Altair® HyperWorks® and Altair® RapidMiner® platforms will be made available to all startups, companies, research centers, and universities throughout Europe who are collaborating with ESA or developing technologies with ESA support.
Solution empowers engineers with advanced PCB verification tools at no cost TROY, Mich., Nov. 7, 2024 /PRNewswire/ -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, announced it is providing engineers access to advanced printed circuit board (PCB) verification tools at no cost with Altair® PollEx™ for ECAD. PollEx for ECAD empowers organizations to streamline design processes, enhance product quality from the earliest stages, and make smarter PCB design decisions. Available as a one-year free trial, PollEx for ECAD integrates seamlessly with all leading electronic computer-aided design (ECAD) tools.
TROY, Mich., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), today released its financial results for the third quarter and nine months ended September 30, 2024. Immediately prior to the dissemination of this press release, Altair issued a press release announcing that it has entered into a merger agreement with a subsidiary of Siemens pursuant to which Altair will be acquired and stockholders of Altair will receive cash merger consideration as more fully described in that press release. Third Quarter 2024 Financial Results Software revenue was $138.7 million compared to $119.1 million for the third quarter of 2023, an increase of 16.5% in reported currency an
TROY, Mich., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Altair (NASDAQ:ALTR), a global leader in computational intelligence, today announced that it has entered into a definitive agreement to be acquired by Siemens, a leading technology company focused on industry, infrastructure, mobility, and healthcare. Altair stockholders will receive $113.00 per share in cash, representing an equity value of approximately $10.6 billion. The $113.00 per share cash consideration represents a 19% premium to the closing price of Altair common stock on October 21, 2024, the last trading day prior to media speculation regarding a potential transaction, and a 13% premium to Altair's unaffected all-time high closing
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