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Altair Engineering (ALTR) Stock Jumps 7.5%: Will It Continue to Soar?
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Altair Engineering (ALTR - Free Report) shares ended the last trading session 7.5% higher at $59.11. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.6% gain over the past four weeks.
ALTR has been registering solid growth in billings on a constant-currency basis and witnessing strong demand across all geographies. The company’s focus on delivering services with outstanding technology developments and applications is expected to drive growth.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of -5.3%. Revenues are expected to be $146.01 million, up 3.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Altair Engineering, the consensus EPS estimate for the quarter has been revised 5.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ALTR going forward to see if this recent jump can turn into more strength down the road.
Altair Engineering is part of the Zacks Engineering - R and D Services industry. Mayville Engineering (MEC - Free Report) , another stock in the same industry, closed the last trading session 5% higher at $15.50. MEC has returned 16.4% in the past month.
For Mayville Engineering, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. This represents a change of +575% from what the company reported a year ago. Mayville Engineering currently has a Zacks Rank of #3 (Hold).
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Altair Engineering (ALTR) Stock Jumps 7.5%: Will It Continue to Soar?
Altair Engineering (ALTR - Free Report) shares ended the last trading session 7.5% higher at $59.11. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.6% gain over the past four weeks.
ALTR has been registering solid growth in billings on a constant-currency basis and witnessing strong demand across all geographies. The company’s focus on delivering services with outstanding technology developments and applications is expected to drive growth.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of -5.3%. Revenues are expected to be $146.01 million, up 3.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Altair Engineering, the consensus EPS estimate for the quarter has been revised 5.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ALTR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Altair Engineering is part of the Zacks Engineering - R and D Services industry. Mayville Engineering (MEC - Free Report) , another stock in the same industry, closed the last trading session 5% higher at $15.50. MEC has returned 16.4% in the past month.
For Mayville Engineering, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.19. This represents a change of +575% from what the company reported a year ago. Mayville Engineering currently has a Zacks Rank of #3 (Hold).