Alight (NYSE:ALIT) Given New $40.00 Price Target at DA Davidson

Alight (NYSE:ALIT) had its price objective increased by DA Davidson from $2.00 to $40.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective suggests a potential upside of 189.31% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of Alight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Alight from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. 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, the stock has an average rating of “Hold” and a consensus price target of $62.57.

Alight Stock Performance

Shares of ALIT stock opened at $13.83 on Thursday. Alight has a 12 month low of $9.58 and a 12 month high of $122.20. The stock has a market cap of $7.39 billion, a PE ratio of -2.36, a price-to-earnings-growth ratio of 0.17 and a beta of 1.67. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.92. The company’s fifty day moving average price is $14.52 and its 200-day moving average price is $21.11.

Institutional Trading of Alight

A number of institutional investors and hedge funds have recently modified their holdings of ALIT. Royal Bank of Canada lifted its holdings in shares of Alight by 3.6% during the first quarter. Royal Bank of Canada now owns 159,901 shares of the company’s stock valued at $948,000 after purchasing an additional 5,525 shares in the last quarter. AQR Capital Management LLC purchased a new position in Alight in the 1st quarter worth about $434,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alight by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 249,753 shares of the company’s stock valued at $1,481,000 after acquiring an additional 10,893 shares during the period. Jones Financial Companies Lllp lifted its stake in Alight by 1,776.2% during the 1st quarter. Jones Financial Companies Lllp now owns 11,257 shares of the company’s stock valued at $67,000 after acquiring an additional 10,657 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alight by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,027,103 shares of the company’s stock valued at $6,091,000 after acquiring an additional 66,771 shares during the last quarter. Institutional investors own 96.74% of the company’s stock.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.