Alight Inc. [ALIT] stock Initiated by KeyBanc Capital Markets analyst, price target now $15

Alight Inc. [NYSE: ALIT] price surged by 2.33 percent to reach at $0.18. The company report on October 13, 2022 that Alight to Announce Third Quarter 2022 Results.


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Alight, Inc. (NYSE: ALIT), a leading cloud-based human capital technology and services provider, today announced it will release third quarter 2022 earnings results before the market open on Thursday, November 3, 2022, and management will discuss the results on a conference call at 8:30 am ET the same day. The webcast and a presentation of financial information will be publicly available at investor.alight.com. To listen by phone, please dial 1-877-300-8521 or 1-412-317-6026. A replay of the call will be available on the Company website and until Thursday, November 17, 2022, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 10171351.

A sum of 4256462 shares traded at recent session while its average daily volume was at 1.83M shares. Alight Inc. shares reached a high of $8.06 and dropped to a low of $7.745 until finishing in the latest session at $7.91.

The one-year ALIT stock forecast points to a potential upside of 36.72. The average equity rating for ALIT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Alight Inc. [ALIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALIT shares is $12.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALIT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for Alight Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 16, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on August 02, 2022, representing the official price target for Alight Inc. stock. Previously, the target price had yet another raise to $15, while Stephens analysts kept a Overweight rating on ALIT stock.

The Average True Range (ATR) for Alight Inc. is set at 0.37, with the Price to Sales ratio for ALIT stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 0.49. Price to Free Cash Flow for ALIT in the course of the last twelve months was 119.25 with Quick ratio for the last quarter at 1.20.

ALIT Stock Performance Analysis:

Alight Inc. [ALIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.19. With this latest performance, ALIT shares gained by 2.33% in over the last four-week period, additionally sinking by -17.17% over the last 6 months – not to mention a drop of -27.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALIT stock in for the last two-week period is set at 53.52, with the RSI for the last a single of trading hit 55.98, and the three-weeks RSI is set at 52.21 for Alight Inc. [ALIT]. The present Moving Average for the last 50 days of trading for this stock 7.91, while it was recorded at 7.68 for the last single week of trading, and 8.53 for the last 200 days.

Insight into Alight Inc. Fundamentals:

Alight Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

ALIT Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alight Inc. go to -3.72%.

Alight Inc. [ALIT] Insider Position Details

There are presently around $3,218 million, in the hands of institutional investors. The top three institutional holders of ALIT stocks are: BLACKSTONE INC. with ownership of 54,833,898, which is approximately 0% of the company’s market cap and around 0.80% of the total institutional ownership; CANNAE HOLDINGS, INC., holding 52,477,062 shares of the stock with an approximate value of $415.09 million in ALIT stocks shares; and NEW MOUNTAIN VANTAGE ADVISERS, L.L.C., currently with $239.89 million in ALIT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Alight Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 108 institutional holders increased their position in Alight Inc. [NYSE:ALIT] by around 76,063,108 shares. Additionally, 65 investors decreased positions by around 48,177,247 shares, while 19 investors held positions by with 282,611,031 shares. The mentioned changes placed institutional holdings at 406,851,386 shares, according to the latest SEC report filing. ALIT stock had 57 new institutional investments in for a total of 11,645,060 shares, while 32 institutional investors sold positions of 19,812,342 shares during the same period.

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