UBS Group Has Lowered Expectations for Alight (NYSE:ALIT) Stock Price

Alight (NYSE:ALIT) had its target price reduced by investment analysts at UBS Group from $6.50 to $4.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 69.85% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wedbush lowered their price objective on shares of Alight from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday. Needham & Company LLC decreased their price target on shares of Alight from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alight in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Alight Stock Performance

Shares of Alight stock opened at $2.36 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $3.22 and its two-hundred day moving average is $4.49. Alight has a 52 week low of $2.25 and a 52 week high of $8.93. The company has a market capitalization of $1.27 billion, a PE ratio of -0.58 and a beta of 1.02.

Alight (NYSE:ALIT) last issued its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $533.00 million for the quarter, compared to analysts’ expectations of $539.43 million. Alight had a negative net margin of 94.23% and a positive return on equity of 6.94%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Alight has set its FY 2025 guidance at 0.540-0.580 EPS. As a group, analysts expect that Alight will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On Alight

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio bought a new position in Alight in the first quarter worth approximately $25,000. CWM LLC boosted its position in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company’s stock valued at $30,000 after acquiring an additional 4,006 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company’s stock valued at $31,000 after acquiring an additional 2,348 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Alight by 152.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company’s stock valued at $29,000 after acquiring an additional 3,138 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Alight by 68.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $46,000 after acquiring an additional 3,300 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors.

About Alight

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.