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Is Alight Inc. (NYSE: ALIT) Stock Poised for More Growth?

In the latest trading session, 1.53 million Alight Inc. (NYSE:ALIT) shares changed hands as the company’s beta touched 0.93. With the company’s most recent per share price at $9.26 changed hands at -$0.17 or -1.86% at last look, the market valuation stands at $4.64B. ALIT’s current price is a discount, trading about -10.04% off its 52-week high of $10.19. The share price had its 52-week low at $6.33, which suggests the last value was 31.64% up since then. When we look at Alight Inc.’s average trading volume, we note the 10-day average is 6.49 million shares, with the 3-month average coming to 1.60.

Alight Inc. (NYSE:ALIT) trade information

Instantly ALIT was in red as seen in intraday trades today. With action 1.70%, the performance over the past five days has been green. The drop to weekly highs of 9.53 subtracted -1.86% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.50%, with the 5-day performance at 1.70% in the green. However, in the 30-day time frame, Alight Inc. (NYSE:ALIT) is 10.57% up. Looking at the short shares, we see there were 19.53 million shares sold at short interest cover period of 2.17 days.

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Alight Inc. (ALIT) estimates and forecasts

Data shows that the Alight Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 9.40% over the past 6 months, a 17.54% in annual growth rate that is considerably lower than the industry average of 22.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Alight Inc. will rise 30.00%, while the growth in revenue is estimated to hit 7.70% for the next quarter. Year-over-year growth is forecast to reach 11.20% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $1.03 billion. 8 analysts are of the opinion that Alight Inc.’s revenue for the quarter ending Mar 2024 will be $883.18 million. The company’s revenue for the corresponding quarters a year ago was $942 million and $831 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.50%. The estimates for the next quarter sales put growth at 6.30%.

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