Alight Inc. [NYSE: ALIT] slipped around -0.21 points on Tuesday, while shares priced at $9.44 at the close of the session, down -2.18%. The company report on March 28, 2024 at 7:00 AM that Alight’s Latest Release of Alight Worklife® to Unlock Value for Organizations and Their People.
First release of 2024 offers AI-driven workforce support, extensive benefits management and holistic financial and wellbeing features to enhance the employee experience and help generate higher ROI for employers.
Alight, Inc. (NYSE: ALIT), a leading cloud-based human capital and technology services provider, today announced the first major release of Alight Worklife for 2024.
Compared to the average trading volume of 7.55M shares, ALIT reached a trading volume of 6521985 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $12.67 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 1.00. 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.
Citigroup have made an estimate for Alight Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 05, 2024. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on December 06, 2023, representing the official price target for Alight Inc. stock. Previously, the target price had yet another raise to $10, while UBS analysts kept a Buy rating on ALIT stock.
The Average True Range (ATR) for Alight Inc. is set at 0.29, with the Price to Sales ratio for ALIT stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 3.21. Price to Free Cash Flow for ALIT in the course of the last twelve months was 22.88 with Quick ratio for the last quarter at 1.25.
How has ALIT stock performed recently?
Alight Inc. [ALIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.16. With this latest performance, ALIT shares gained by 3.74% in over the last four-week period, additionally plugging by 33.15% over the last 6 months – not to mention a rise of 5.83% 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 51.22, with the RSI for the last a single of trading hit 47.87, and the three-weeks RSI is set at 52.83 for Alight Inc. [ALIT]. The present Moving Average for the last 50 days of trading for this stock 9.23, while it was recorded at 9.71 for the last single week of trading, and 8.33 for the last 200 days.
Alight Inc. [ALIT]: Deeper insight into the fundamentals
Alight Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.25 and a Current Ratio set at 1.25.
Earnings analysis for Alight Inc. [ALIT]
With the latest financial reports released by the company, Alight Inc. posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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 13.00%.
Insider trade positions for Alight Inc. [ALIT]
The top three institutional holders of ALIT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ALIT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ALIT stock with ownership which is approximately 5.8386%.
