Alight (NYSE:ALIT) Given New $11.00 Price Target at Needham & Company LLC

Alight (NYSE:ALIT) had its price objective raised by equities research analysts at Needham & Company LLC from $9.00 to $11.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 30.02% from the stock’s previous close.

ALIT has been the topic of several other reports. JPMorgan Chase & Co. downgraded Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th. Citigroup reduced their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Wedbush reduced their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Alight presently has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Alight Trading Up 13.4 %

Shares of NYSE ALIT opened at $8.46 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $7.23 and its 200-day moving average price is $7.41. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a market cap of $4.62 billion, a price-to-earnings ratio of -19.23 and a beta of 0.87.

Institutional Trading of Alight

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in Alight by 16.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,898,593 shares of the company’s stock valued at $36,250,000 after acquiring an additional 699,375 shares in the last quarter. Highland Peak Capital LLC bought a new stake in Alight during the 3rd quarter valued at $5,315,000. Intech Investment Management LLC bought a new stake in Alight during the 3rd quarter valued at $795,000. Corbyn Investment Management Inc. MD boosted its position in Alight by 4.2% during the 3rd quarter. Corbyn Investment Management Inc. MD now owns 714,823 shares of the company’s stock valued at $5,290,000 after acquiring an additional 28,704 shares in the last quarter. Finally, Swiss National Bank boosted its position in Alight by 5.0% during the 3rd quarter. Swiss National Bank now owns 792,100 shares of the company’s stock valued at $5,862,000 after acquiring an additional 38,000 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

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.