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

Alight (NYSE:ALIT) had its target price boosted by stock analysts at Needham & Company LLC from $9.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 30.02% from the company’s previous close.

A number of other equities analysts have also issued reports on ALIT. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. Wedbush reduced their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Alight presently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Alight Stock Up 13.4 %

Alight stock opened at $8.46 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -19.23 and a beta of 0.87. Alight has a 1-year low of $6.15 and a 1-year high of $10.38. The business has a fifty day moving average price of $7.23 and a 200-day moving average price of $7.41.

Hedge Funds Weigh In On Alight

Several institutional investors and hedge funds have recently modified their holdings of ALIT. Nisa Investment Advisors LLC increased its stake in shares of Alight by 65.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,498 shares of the company’s stock valued at $55,000 after purchasing an additional 2,961 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Alight in the 3rd quarter valued at about $74,000. KBC Group NV increased its stake in shares of Alight by 24.0% in the 3rd quarter. KBC Group NV now owns 12,049 shares of the company’s stock valued at $89,000 after purchasing an additional 2,331 shares in the last quarter. Motco purchased a new position in shares of Alight in the 1st quarter valued at about $95,000. Finally, Ingalls & Snyder LLC boosted its holdings in Alight by 20.9% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,919 shares of the company’s stock worth $95,000 after buying an additional 2,235 shares during the last quarter. Hedge funds and other 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.