There's a buy opportunity in this little-known software company, Needham says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

Needham reiterated its buy rating on Alight shares, following a selloff in August.

Needham analysts believe the recent pullback in software company Alight warrants a deeper look. The cloud-based business solution company has lost more than 18% in the current quarter, dragging shares down 9.5% for the year. The selloff came following its second-quarter earnings in August, during which the company reported a 36.3% year-over-year decline in business process as a service bookings. A follow-on offering also contributed to the selloff, according to analyst Kyle Peterson.

The analyst also maintained his $13 price target, implying almost 72% upside potential from Wednesday's close. "While we believe the recent follow-on equity offering was frustrating for some investors given the timing, it further reduces sponsor overhang , and we like that ALIT did a concurrent buyback to help return capital to shareholders," Peterson wrote. The analyst highlighted Alight's diverse offering of healthcare, benefits and payroll solutions.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 12. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

A day after the big Tesla upgrade that moved the market, one analyst disagrees. Here's whyNeedham is cautious on Tesla stock following a massive upgrade from Morgan Stanley's Adam Jonas.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »