Altair Engineering, Inc. Joins Infinhub's Top Hub Stocks List with Impressive Financial Performance
Infinhub, the leading stock evaluation platform, has recently added a new stock to its list of Top Hub Stocks - Altair Engineering, Inc. This packaged software company has caught the attention of investors with its strong financial performance in the quarter ending March 2024.
Altair Engineering, Inc. has shown a remarkable growth in its pre-tax profit, which has increased by 639.08% to USD 23.32 million. Its net profit has also seen a significant growth of 506.38% to USD 16.55 million. The company's operating cash flow has been the highest at USD 141.56 million, while its net sales have reached USD 172.91 million. Altair Engineering, Inc. also boasts a strong cash and equivalent balance of USD 1,025.06 million, making it a financially stable company.
One of the key factors that sets Altair Engineering, Inc. apart from its competitors is its low debt-equity ratio of -28.7%, indicating a healthy financial position. The company has also managed to reduce its raw material cost by -3.02% year-on-year, further strengthening its financials.
Infinhub's Top Hub Stocks list is a compilation of the highest rated stocks on its platform. These stocks go through a rigorous evaluation process and are chosen based on their strong long-term and near-term fundamentals, price momentum, and reasonable valuations. Currently, there are 113 stocks on the list, out of which 41 are large caps, 36 are mid caps, and 36 are small and mid caps.
Some of the top performing stocks on the list include Powell Industries, Inc. with a growth of 307.21% in 13 months, Abercrombie & Fitch Co. with a growth of 264.29% in 10 months, and Arista Networks, Inc. with a growth of 181.6% in 20 months.
Investors looking for a new stock to add to their portfolio can consider Altair Engineering, Inc. as a strong contender, given its impressive financial performance and its inclusion in Infinhub's Top Hub Stocks list. With its strong fundamentals and reasonable valuations, Altair Engineering, Inc. is a stock to watch out for in the packaged software sector.