Alight's Target Price Raised by Analysts Amid Positive Market Outlook

Alight Solutions, publicly traded as Alight Inc. (NYSE:ALIT), has received an uplifting revision on its price target by analysts at Needham & Company LLC. The new price objective has been set at $13.00, rising from the previous $12.00 figure. This represents a significant predicted growth potential of 31.11% over the stock's last closing price, as highlighted in the latest financial reports from Benzinga. Needham & Company LLC continues to endorse Alight with a "buy" rating, suggesting confidence in the company's future performance.

Broader Analysts Consensus

The optimistic pricing is not an isolated view, as several other equities analysts have weighed in with similar endorsements of Alight. Analysts from Canaccord Genuity Group initiated coverage with a "buy" rating, aligning with Citigroup's affirmation of the same rating and a price target of $12.00. Meanwhile, TheStreet upgraded Alight from a "d+" to a "c-" rating. UBS Group also showed support by increasing its price objective from $10.00 to $11.00 while maintaining a "buy" rating. These evaluations result in a collective "Buy" consensus and an average target price of $12.71 according to data from MarketBeat.com.

Company's Financials and Insider Transactions

Upon opening on the announcement day, ALIT stocks were priced at $9.92. Alight boasts a robust market capitalization of $5.58 billion, and while it presents a net negative margin, the company has demonstrated a positive return on equity. The latest quarterly earnings outpaced expectations with reported EPS of $0.23 against the $0.17 estimate, while the revenue stood at $960.00 million versus the expected $1.03 billion. Notable insider activity includes the CEO Stephan Scholl's sale of over 428,000 shares, valued at approximately $4.2 million. Additional insider transactions by top executives reflect active engagement with the company's stocks.

Hedge Funds Investment Patterns

Hedge funds and institutional investors have shown varied movements in their stakes within the company. Some, like Tower Research Capital LLC TRC and Ensign Peak Advisors Inc, have moderately increased their shares, while others like Xponance Inc, Voya Investment Management LLC, and the Royal Bank of Canada have also seen growth in their investments, displaying overall robust institutional interest in Alight.

About Alight

Alight Inc. specializes in cloud-based digital solutions addressing human capital and business operations. The firm operates with a global reach and delivers services across multiple segments, catering to employer solutions and offering professional services driven by AI technologies.

Alight, Target, Raised