Alight (NYSE:ALIT) Price Target Raised to $40.00 at DA Davidson

Alight (NYSE:ALIT) had its price objective increased by equities research analysts at DA Davidson from $2.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 189.31% from the stock’s current price.

Several other brokerages have also recently weighed in on ALIT. Weiss Ratings cut Alight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.57.

Alight Price Performance

Shares of NYSE:ALIT opened at $13.83 on Thursday. The stock has a market cap of $7.39 billion, a PE ratio of -2.36, a PEG ratio of 0.17 and a beta of 1.67. The company’s fifty day moving average is $14.52 and its 200 day moving average is $21.11. Alight has a 52 week low of $9.58 and a 52 week high of $122.20. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.92.

Institutional Trading of Alight

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TradeLink Capital LLC purchased a new position in Alight during the 4th quarter valued at $25,000. Strs Ohio bought a new stake in shares of Alight during the 1st quarter valued at about $25,000. Moss Adams Wealth Advisors LLC purchased a new position in shares of Alight during the fourth quarter valued at about $26,000. Renaissance Technologies LLC purchased a new position in shares of Alight during the fourth quarter valued at about $26,000. Finally, Evolve Private Wealth LLC bought a new position in Alight in the first quarter worth about $27,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.