Alight (NYSE:ALIT) Announces Quarterly Earnings Results

Alight (NYSE:ALIT) posted its earnings results on Tuesday. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.54, FiscalAI reports. The company had revenue of $500.00 million for the quarter, compared to analyst estimates of $473.74 million. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%.

Alight Stock Up 2.8%

ALIT traded up $0.28 during trading on Tuesday, reaching $10.16. The company had a trading volume of 681,480 shares, compared to its average volume of 1,069,804. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.42 and a quick ratio of 1.42. Alight has a 12 month low of $7.93 and a 12 month high of $57.00. The business’s fifty day moving average price is $11.05 and its 200 day moving average price is $16.01. The company has a market cap of $273.73 million, a P/E ratio of -0.13, a PEG ratio of 0.16 and a beta of 1.69.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. DA Davidson lowered their price objective on shares of Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alight in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Alight in a report on Thursday, August 20th. Finally, Citigroup reissued a “neutral” rating and issued a $16.00 target price (down from $20.00) on shares of Alight in a research note on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Alight currently has an average rating of “Hold” and an average target price of $49.33.

Alight Company Profile

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.