Market Analysts see Align Technology Inc. [ALGN] falling to $620. Time to buy?

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Align Technology Inc. [NASDAQ: ALGN] stock went on a downward path that fall over -15.47% on Thursday, amounting to a one-week price decrease of less than -20.58%. The company report on April 27, 2022 that Align Technology Announces First Quarter 2022 Financial Results.

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Q1’22 total revenues of $973.2 million, compared to $894.8 million in Q1’21.

Over the last 12 months, ALGN stock dropped by -49.59%. The one-year Align Technology Inc. stock forecast points to a potential upside of 50.0. The average equity rating for ALGN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $27.91 billion, with 78.75 million shares outstanding and 73.77 million shares in the current float. Compared to the average trading volume of 852.55K shares, ALGN stock reached a trading volume of 4212329 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Align Technology Inc. [ALGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALGN shares is $609.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALGN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for Align Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 31, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on January 31, 2022, representing the official price target for Align Technology Inc. stock. Previously, the target price had yet another raise to $732, while Credit Suisse analysts kept a Outperform rating on ALGN stock.

The Average True Range (ATR) for Align Technology Inc. is set at 24.05, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 7.06. The Price to Book ratio for the last quarter was 6.62, with the Price to Cash per share for the same quarter was set at 12.79. Price to Free Cash Flow for ALGN in the course of the last twelve months was 36.18 with Quick ratio for the last quarter at 1.20.

ALGN Stock Performance Analysis:

Align Technology Inc. [ALGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.58. With this latest performance, ALGN shares dropped by -32.74% in over the last four-week period, additionally sinking by -49.59% over the last 6 months – not to mention a drop of -49.59% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALGN stock in for the last two-week period is set at 23.42, with the RSI for the last a single of trading hit 17.21, and the three-weeks RSI is set at 28.03 for Align Technology Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 434.80, while it was recorded at 351.16 for the last single week of trading, and 583.93 for the last 200 days.

Insight into Align Technology Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Align Technology Inc. [ALGN] shares currently have an operating margin of +24.70 and a Gross Margin at +74.72. Align Technology Inc.’s Net Margin is presently recorded at +19.53.

Return on Equity for this stock inclined to 22.52, with Return on Assets sitting at 14.33.

Align Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

ALGN Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALGN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Align Technology Inc. go to 43.25%.

Align Technology Inc. [ALGN] Insider Position Details

There are presently around $20,927 million, or 88.90% of ALGN stock, in the hands of institutional investors. The top three institutional holders of ALGN stocks are: VANGUARD GROUP INC with ownership of 5,871,579, which is approximately -0.094% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 5,743,160 shares of the stock with an approximate value of $1.75 billion in ALGN stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $1.34 billion in ALGN stock with ownership of nearly -2.033% of the company’s market capitalization.

Positions in Align Technology Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 468 institutional holders increased their position in Align Technology Inc. [NASDAQ:ALGN] by around 6,021,274 shares. Additionally, 427 investors decreased positions by around 4,714,434 shares, while 129 investors held positions by with 57,955,508 shares. The mentioned changes placed institutional holdings at 68,691,216 shares, according to the latest SEC report filing. ALGN stock had 133 new institutional investments in for a total of 815,424 shares, while 130 institutional investors sold positions of 708,329 shares during the same period.