Alight (NYSE:ALIT) Updates Q4 Earnings Guidance

Alight (NYSE:ALIT) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.22-0.27 for the period, compared to the consensus estimate of $0.22. The company issued revenue guidance of $665-685 million, compared to the consensus revenue estimate of $679.50 million. Alight also updated its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Trading Up 13.4 %

Shares of Alight stock opened at $8.46 on Wednesday. The stock has a market cap of $4.62 billion, a P/E ratio of -19.23 and a beta of 0.87. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight has a 12-month low of $6.15 and a 12-month high of $10.38. The business’s 50 day moving average is $7.23 and its 200-day moving average is $7.41.

Analyst Ratings Changes

Several research firms have commented on ALIT. Needham & Company LLC upped their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity Group boosted their price objective on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Wedbush dropped their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.85.

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.