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Alight stock reached a 52-week low, dipping to $4.48, reflecting a challenging period for the company. With a market capitalization of $2.45 billion, InvestingPro analysis indicates the stock is currently trading below its Fair Value, while analysts maintain an average price target of $9.50. Over the past year, Foley Trasimene Acquisition Corp, under which Alight operates, has experienced a significant decline, with a 1-year change of -28.83%. While the company faces profitability challenges with negative earnings in the last twelve months, InvestingPro data reveals management’s aggressive share buyback program and analysts expect a return to profitability this year. This downturn highlights the broader struggles within the market and specific challenges faced by the company, prompting investors to closely monitor Alight’s performance and strategic responses in the coming months. Get the full analysis and 5 additional exclusive InvestingPro Tips for ALIT in the comprehensive Pro Research Report.
In other recent news, Alight, Inc. reported its second-quarter financial results, revealing revenue of $528 million, which surpassed analyst expectations of $523.79 million. This achievement comes despite a 1.9% decline in revenue compared to the same period last year. The company’s adjusted earnings per share were $0.10, slightly below the anticipated $0.11. However, Alight’s adjusted EBITDA showed improvement, rising to $127 million from $105 million in the previous year. These developments highlight the company’s ability to exceed revenue forecasts even as it faced a minor earnings shortfall. The recent results are part of a series of developments affecting Alight. No recent analyst upgrades or downgrades were reported for the company. Investors will likely keep a close watch on Alight’s future performance following these financial disclosures.
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