Alight (NYSE:ALIT) Issues Q4 2024 Earnings Guidance

Alight (NYSE:ALIT) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.220-0.270 for the period, compared to the consensus 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 Price Performance

NYSE ALIT traded up $1.12 on Tuesday, hitting $8.58. The stock had a trading volume of 9,796,517 shares, compared to its average volume of 5,620,935. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. Alight has a 52-week low of $6.15 and a 52-week high of $10.38. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -19.36 and a beta of 0.87. The firm has a 50-day moving average of $7.20 and a 200-day moving average of $7.42.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Alight in a research report on Monday, September 30th. Citigroup lowered their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush dropped their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.