Rosenblatt downgraded Altair Engineering to Neutral from Buy with a price target of $88, up from $74. Altair reported Q4 revenue just below the firm’s expectations, but with stronger margins, and the outlook for FY24 revenue was largely in-line, the analyst tells investors. Following the recent stock run-up, the firm prefers to await a more attractive add point, the analyst adds.
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Read More on ALTR:
- Altair Announces Fourth Quarter and Full Year 2023 Financial Results
- Altair Engineering (ALTR) Q4 Earnings Cheat Sheet
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- Altair To Host Investor Day on Wednesday, March 20, 2024
- Altair Engineering price target raised to $95 from $75 at Oppenheimer
