To add deep data warehouse expertise to our strong analytics and data science team, Altea Engineering Co., Ltd. ALTR has acquired Cambridge Semantics.
Cambridge Semantics is a modern data fabric provider and creator of the leading analytical graph database. Their graph-driven data fabric technology simplifies the creation of comprehensive enterprise knowledge graphs by unifying complex webs of structured and unstructured enterprise data in one place.
Cambridge Semantics’ transformative knowledge graph technology will be integrated into Altair’s RapidMiner platform, adding knowledge graph, data governance, data virtualization and data discovery technologies to Altair’s existing data preparation, ETL, data science, business intelligence, MLOps, workload management and orchestration tools.
The agreement will enable the organization to build a solid foundation for an advanced analytics ecosystem that embeds artificial intelligence (AI) into its day-to-day operations.
Incremental Acquisition: The Benefits
Altair’s products, services and business model have driven market share growth. The company continues to evolve its product portfolio through a combination of sustainable and disruptive innovation. It is also encouraged by strategic investments in engineering AI, revenue-accidental acquisitions and strong product demand.
Acquisitions are an important part of Altair’s strategy to complement organic growth and broadly diversify its overall portfolio. Between 1996 and 2023, Altair acquired 51 companies or strategic technologies.
The company acquired OmniQuest, a Michigan-based optimization software company, and XLDyn, LLC’s OmniV technology in 2023. OmniQuest’s flagship product, Genesis, will strengthen Altair’s leadership in lightweight and structurally efficient design worldwide, while OmniV, a vendor-neutral MBSE requirements management solution, will enhance Altair’s ability to engage in projects involving digital twins, simulation data management and engineering data analytics.
The global leader in computational intelligence finished 2023 with record revenues and profits. Total revenue increased 7.1% in reported currency and 8.2% in constant currency. Adjusted EPS increased 27% from 2022 levels.
In 2024, the company expects revenue growth of 8.2% to 9.8% year-over-year.
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In terms of stock price movement, Altea has risen 34.9% over the past six months, while the Zacks Engineering – R&D Services industry has risen 30.8%.
Earnings estimates for 2024 have risen from $1.11 to $1.28 per share over the past 60 days, which represents a 13.3% increase from the previous year and indicates analyst optimism regarding growth potential.
Zacks Rank and other major stocks
Currently, Altair has a Zacks Rank #2 (Buy).
Other stocks ranking highly in the same sector include:
Wildan Group Inc. WLDN currently carries a Zacks Rank #1 (Strong Buy). WLDN has delivered an impressive 886.3% in its average earnings growth over the past four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimates for WLDN’s 2024 revenue and earnings per share (EPS) are suggesting year-over-year growth of 3.9% and 3.4%, respectively.
Sterling Infrastructure Co., Ltd. STRL currently sports a Zacks Rank #1. Sterling Infrastructure’s earnings outlook for the past four quarters has risen 20.4% on average.
The Zacks Consensus Estimates are projecting STRL’s 2024 revenue and EPS increases of 11.7% and 11.4%, respectively, from the prior year.
Mtron Industries Co., Ltd. MPTI currently carries a Zacks Rank #2. Out of the past four quarters, it has surpassed earnings estimates two times, met expectations once and missed estimates once, for an average surprise of 24.7%.
The Zacks Consensus Estimates for MPTI’s 2024 revenue and EPS indicate year-over-year increases of 10.3% and 57%, respectively.
(This article is being republished to correct an error. The original article, published on April 19, 2024, is no longer authoritative.)
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Altair Engineering Inc. (ALTR) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
