Alight, Inc. (ALIT - Free Report) shares soared 14% in the last trading session to close at $10.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.7% loss over the past four weeks.
The upswing can be attributed to ALIT's announcement that it has signed a definitive agreement to divest its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment to an affiliate of H.I.G. Capital for up to $1.2 billion.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $855.41 million, up 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alight, the consensus EPS estimate for the quarter has been revised 6.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ALIT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alight is a member of the Zacks Internet - Software industry. One other stock in the same industry, Twilio (TWLO - Free Report) , finished the last trading session 0.5% higher at $61.91. TWLO has returned 8.7% over the past month.
Twilio's consensus EPS estimate for the upcoming report has changed +12.3% over the past month to $0.59. Compared to the company's year-ago EPS, this represents a change of +25.5%. Twilio currently boasts a Zacks Rank of #2 (Buy).
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Alight, Inc. (ALIT - Free Report) shares soared 14% in the last trading session to close at $10.08. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.7% loss over the past four weeks.
The upswing can be attributed to ALIT's announcement that it has signed a definitive agreement to divest its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment to an affiliate of H.I.G. Capital for up to $1.2 billion.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $855.41 million, up 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alight, the consensus EPS estimate for the quarter has been revised 6.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ALIT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alight is a member of the Zacks Internet - Software industry. One other stock in the same industry, Twilio (TWLO - Free Report) , finished the last trading session 0.5% higher at $61.91. TWLO has returned 8.7% over the past month.
Twilio's consensus EPS estimate for the upcoming report has changed +12.3% over the past month to $0.59. Compared to the company's year-ago EPS, this represents a change of +25.5%. Twilio currently boasts a Zacks Rank of #2 (Buy).
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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