Alight (NYSE:ALIT) Updates Q4 2024 Earnings Guidance

Alight (NYSE:ALIT) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.220-0.270 for the period, compared to the consensus EPS estimate of 0.220. The company issued revenue guidance of $665.0 million-$685.0 million, compared to the consensus revenue estimate of $681.0 million. Alight also updated its Q4 guidance to $0.22-0.27 EPS.

Alight Stock Performance

Shares of Alight stock traded up $1.12 during trading on Tuesday, reaching $8.58. The company’s stock had a trading volume of 9,796,517 shares, compared to its average volume of 5,620,935. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a market cap of $4.69 billion, a PE ratio of -19.36 and a beta of 0.87. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a 50-day moving average price of $7.20 and a two-hundred day moving average price of $7.42.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALIT shares. Citigroup dropped their target price on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Alight in a research note on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Tuesday, August 20th. Finally, Wedbush decreased their price objective on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.75.

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.