There’s Still Time to Buy Alight Inc. (NYSE:ALIT) Stock

In yesterday’s Wall Street session, Alight Inc. (NYSE:ALIT) shares traded at $6.87, down -2.55% from the previous session.

8 analysts cover Alight Inc. (NYSE:ALIT), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $10.00, we find $12.00. Given the previous closing price of $7.05, this indicates a potential upside of 70.21 percent. ALIT stock price is now -3.35% away from the 50-day moving average and -19.51% away from the 200-day moving average. The market capitalization of the company currently stands at $3.44B.

The stock has received a hold rating from 0 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $12.00 as their price target over the next twelve months.

With the price target of $10, UBS recently initiated with Buy rating for Alight Inc. (NYSE: ALIT).

In other news, Massey Richard N, Director bought 50,000 shares of the company’s stock on Oct 05. The stock was bought for $322,490 at an average price of $6.45. Upon completion of the transaction, the Director now directly owns 1,370,169 shares in the company, valued at $9.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, 10% Owner Blackstone Holdings I/II GP L. sold 14,704,603 shares of the business’s stock. A total of $117,342,732 was realized by selling the stock at an average price of $7.98. This leaves the insider owning 43,602 shares of the company worth $0.3 million. Insiders disposed of 247,309,624 shares of company stock worth roughly $1.7 billion over the past 1 year. A total of 28.49% of the company’s stock is owned by insiders.

On Thursday morning Alight Inc. (NYSE: ALIT) stock kicked off with the opening price of $7.07. During the past 12 months, Alight Inc. has had a low of $6.33 and a high of $10.19. As of last week, the company has a debt-to-equity ratio of 0.65, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for ALIT is $7.11 and a two-hundred day moving average price translates $8.54 for the stock.

The latest earnings results from Alight Inc. (NYSE: ALIT) was released for Sep, 2023. The net profit margin was -7.31% and return on equity was -5.59% for ALIT. The company reported revenue of $813.0 million for the quarter, compared to $750.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.4 percent.

Alight Inc.(ALIT) Company Profile

Alight, Inc. provides cloud-based integrated digital human capital and business solutions worldwide. Its solutions enable employees to enrich their health, wealth, and wellbeing that helps organizations achieve a high-performance culture. The company is based in Lincolnshire, Illinois.

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