Align Technology Inc. [ALGN] Revenue clocked in at $3.99 billion, down -72.38% YTD: What’s Next?

Align Technology Inc. [NASDAQ: ALGN] slipped around -40.11 points on Thursday, while shares priced at $181.53 at the close of the session, down -18.10%. The company report on October 26, 2022 that Align Technology Announces Third Quarter 2022 Financial Results.


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Company delivering on innovation roadmap; expanding geographically with first EMEA manufacturing facility; and celebrating 14 millionth Invisalign patient milestone.

Q3’22 total revenues of $890.3 million, and diluted net income per share of $0.93.

Align Technology Inc. stock is now -72.38% down from its year-to-date (YTD) trading value. ALGN Stock saw the intraday high of $188.89 and lowest of $176.0001 per share. The company’s 52-week high price is 713.33, which means current price is +3.14% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 854.16K shares, ALGN reached a trading volume of 4185329 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $302.70 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 2.20. 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.

Goldman have made an estimate for Align Technology Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on July 28, 2022. While these analysts kept the previous recommendation, UBS dropped their target price from $880 to $620. 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 $575, while Morgan Stanley analysts kept a Overweight rating on ALGN stock.

The Average True Range (ATR) for Align Technology Inc. is set at 13.69, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 3.39. The Price to Book ratio for the last quarter was 3.95, with the Price to Cash per share for the same quarter was set at 12.06. Price to Free Cash Flow for ALGN in the course of the last twelve months was 34.84 with Quick ratio for the last quarter at 1.10.

How has ALGN stock performed recently?

Align Technology Inc. [ALGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.45. With this latest performance, ALGN shares dropped by -14.41% in over the last four-week period, additionally sinking by -40.42% over the last 6 months – not to mention a drop of -69.96% 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 33.84, with the RSI for the last a single of trading hit 31.00, and the three-weeks RSI is set at 35.79 for Align Technology Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 231.32, while it was recorded at 208.04 for the last single week of trading, and 328.19 for the last 200 days.

Align Technology Inc. [ALGN]: Deeper insight into the fundamentals

Align Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Earnings analysis for Align Technology Inc. [ALGN]

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%.

Insider trade positions for Align Technology Inc. [ALGN]

There are presently around $12,520 million, or 91.40% of ALGN stock, in the hands of institutional investors. The top three institutional holders of ALGN stocks are: VANGUARD GROUP INC with ownership of 7,323,640, which is approximately 23.152% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 5,610,979 shares of the stock with an approximate value of $1.02 billion in ALGN stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $746.6 million in ALGN stock with ownership of nearly -5.933% of the company’s market capitalization.

346 institutional holders increased their position in Align Technology Inc. [NASDAQ:ALGN] by around 9,265,042 shares. Additionally, 430 investors decreased positions by around 8,361,216 shares, while 112 investors held positions by with 51,345,140 shares. The mentioned changes placed institutional holdings at 68,971,398 shares, according to the latest SEC report filing. ALGN stock had 68 new institutional investments in for a total of 682,368 shares, while 152 institutional investors sold positions of 1,850,998 shares during the same period.

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