Alight, Inc. (NYSE:ALIT) Stock Has Consensus Price Target of $49.33 According to Analysts

Key Points

• Analysts hold a mixed view on Alight: two rate the stock a sell, three a hold and three a buy, resulting in a consensus “Hold” rating and an average 12-month price target of $49.33.
• ALIT opened at $9.40, near its 52-week low of $8.51 and far below its $64.00 high; several analysts have recently reduced their price targets, including Citigroup’s cut to $16 and DA Davidson’s cut to $22.
• Alight exceeded quarterly expectations with adjusted earnings of $0.91 per share versus a $0.76 consensus and revenue of $511 million, while institutional investors and hedge funds own 96.74% of the company’s stock.

Alight, Inc. (NYSE:ALIT - Get Free Report) has earned an average rating of "Hold" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $49.33.

Several equities research analysts have recently commented on ALIT shares. DA Davidson cut their price objective on Alight from $32.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, September 24th. Needham & Company LLC restated a "hold" rating on shares of Alight in a report on Thursday, August 20th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alight in a research report on Tuesday, August 4th. Finally, Citigroup reiterated a "neutral" rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a research note on Thursday, August 20th.

Hedge Funds Weigh In On Alight

A number of institutional investors have recently bought and sold shares of ALIT. Renaissance Technologies LLC lifted its position in shares of Alight by 45,846.2% in the first quarter. Renaissance Technologies LLC now owns 6,018,948 shares of the company's stock valued at $3,507,000 after buying an additional 6,005,848 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Alight during the 4th quarter worth approximately $8,462,000. Squarepoint Ops LLC increased its holdings in shares of Alight by 508.7% during the 2nd quarter. Squarepoint Ops LLC now owns 1,823,646 shares of the company's stock worth $1,021,000 after acquiring an additional 1,524,070 shares during the last quarter. Militia Capital Management LLC bought a new stake in Alight in the 1st quarter valued at $661,000. Finally, Wellington Management Group LLP raised its stake in Alight by 15.3% in the 2nd quarter. Wellington Management Group LLP now owns 4,962,795 shares of the company's stock valued at $2,779,000 after acquiring an additional 656,746 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Alight Stock Performance

ALIT opened at $9.40 on Friday. Alight has a 52-week low of $8.51 and a 52-week high of $64.00. The firm has a market capitalization of $253.29 million, a PE ratio of -0.12, a PEG ratio of 0.21 and a beta of 1.69. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.42 and a current ratio of 1.42. The business's 50-day simple moving average is $12.88 and its 200 day simple moving average is $14.22.

Alight (NYSE:ALIT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. The firm had revenue of $511.00 million during the quarter, compared to analysts' expectations of $497.02 million. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%. As a group, sell-side analysts expect that Alight will post 4.12 earnings per share for the current fiscal year.

About Alight

Alight, Inc NYSE: ALIT is a cloud-based provider of human capital and financial management technology and services. The company helps organizations manage employee benefits, payroll, human resources, talent administration and financial well-being through digital platforms and related professional services.

Its offerings include employee engagement and benefits administration tools, payroll and workforce management solutions, and software designed to support health, retirement and other workplace programs.

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