10 Best Cheap Stocks to Buy Under $10

7. Alight Inc. (NYSE:ALIT)

Share Price as of April 22: $4.81

Forward P/E Ratio as of April 22: 8.05

Number of Hedge Fund Holders: 42

Alight Inc. (NYSE:ALIT) is a technology-enabled services company that provides Alight Worklife. This is an intuitive, cloud-based employee engagement platform. Its services include integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, and retiree healthcare, and it also operates AI-led capabilities software.

Recurring Revenue at Alight represents 91% of the company’s total revenue in Q4 2024. Notably, the company made $114 million in total ARR Bookings for the full year 2024, which was up by 18% from 2023. This double-digit growth in H2 2024 underscores the strong demand for Alight’s mission-critical employee benefit solutions. The sales pipeline for future ARR Bookings is also strong, with a 54% increase from the prior year.

For the full year 2025, Alight projects recurring revenue to be up ~1%, with higher growth rates expected in every quarter compared to the prior year. Needham analyst Kyle Peterson recently reaffirmed a Buy rating on the company’s stock with a $9 price target. He remains optimistic as Alight unveiled updated medium-term financial targets that met market expectations while maintaining an ambitious outlook to appeal to investors.