Analysts Set Alight, Inc. (NYSE:ALIT) PT at $13.50

Posted by on Jun 15th, 2023

Shares of Alight, Inc. (NYSE:ALIT – Get Rating) have been given an average recommendation of “Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.29.

Several analysts have recently weighed in on ALIT shares. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Alight in a research note on Monday, March 13th. JPMorgan Chase & Co. increased their price objective on shares of Alight from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, March 10th. Credit Suisse Group increased their target price on shares of Alight from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Finally, Citigroup assumed coverage on shares of Alight in a report on Monday. They issued a “buy” rating and a $12.00 price objective on the stock.

Alight Stock Down 1.5 %

ALIT opened at $8.94 on Monday. Alight has a twelve month low of $6.31 and a twelve month high of $10.19. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $8.82 and a 200 day moving average price of $8.91. The company has a market cap of $4.97 billion, a PE ratio of -34.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.70.

Alight (NYSE:ALIT – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Alight had a negative net margin of 3.68% and a positive return on equity of 3.07%. The company had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $803.92 million. Sell-side analysts expect that Alight will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. purchased a new position in Alight during the 1st quarter worth $17,642,000. JPMorgan Chase & Co. raised its position in Alight by 44.1% during the first quarter. JPMorgan Chase & Co. now owns 481,106 shares of the company’s stock worth $4,431,000 after acquiring an additional 147,339 shares during the last quarter. Ancora Advisors LLC raised its position in Alight by 19.5% during the first quarter. Ancora Advisors LLC now owns 1,199,142 shares of the company’s stock worth $11,044,000 after acquiring an additional 195,710 shares during the last quarter. State Street Corp raised its position in shares of Alight by 17.6% in the first quarter. State Street Corp now owns 7,693,112 shares of the company’s stock valued at $70,854,000 after buying an additional 1,151,959 shares during the last quarter. Finally, Sandia Investment Management LP raised its position in shares of Alight by 26.7% in the first quarter. Sandia Investment Management LP now owns 38,000 shares of the company’s stock valued at $350,000 after buying an additional 8,000 shares during the last quarter. 95.68% of the stock is owned by hedge funds and other institutional investors.

About Alight

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Alight, Inc operates as a cloud-based provider of integrated digital human capital and business solutions worldwide. It operates through three segments: Employer Solutions, Professional Services, and Hosted Business. The company's solutions enable employees to enrich their health, wealth, and wellbeing, which helps organizations achieve a high-performance culture.

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Analyst Recommendations for Alight (NYSE:ALIT)

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