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Fly News Breaks for November 5, 2018
ALTR, DWCH
Nov 5, 2018 | 12:40 EDT
The acquisition of Datawatch (DWCH) brings Altair Engineering (ALTR) deep capabilities for data prep, machine learning and real-time visualization that can be utilized across its customer base, JPMorgan analyst Sterling Auty tells investors in a research note. However, the analyst believes that supporting the "heavy" financial service exposure of Datawatch's existing business and investing to penetrate the manufacturing industry with this technology "does pose challenges." Nonetheless, he views the acquisition as another example of Altair focusing on finding the best technology and then using its experience to leverage its success into its industry focus. On the stock's 18% selloff today, Auty believes the market appears to be "taking the news harshly" given management's comment that revenue from the deal could actually shrink in 2019 before it gets better with the move to subscription. He keeps a Neutral rating on Altair, which is down $7.02 to $30.88 in midday trading.
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