Goldman lifts Align Technology Inc. [ALGN] price estimate. Who else is bullish?

Align Technology Inc. [NASDAQ: ALGN] gained 3.15% on the last trading session, reaching $201.97 price per share at the time. The company report on November 7, 2022 that Align Technology to Award Research Programs That Advance Orthodontic and Dental Patient Care.

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2023 Grant Application Process Now Open for Up to $300,000 in Funding.

Align Technology, Inc. (NASDAQ: ALGN) today announced the opening of its 2023 Research Award Program to support clinical and scientific dental research in universities across the globe. This year, up to $300,000 will be awarded to university faculty for scientific and technological research initiatives to advance patient care in the fields of orthodontics and dentistry. Align Technology’s Research Award Program has funded approximately $2.7 million in research since the program’s inception in 2010.

Align Technology Inc. represents 78.09 million in outstanding shares, while the company has a total market value of $15.92 billion with the latest information. ALGN stock price has been found in the range of $186.74 to $216.04.

If compared to the average trading volume of 1.06M shares, ALGN reached a trading volume of 2746359 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $241.90 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 10.17, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 4.12. The Price to Book ratio for the last quarter was 4.27, with the Price to Cash per share for the same quarter was set at 13.84. Price to Free Cash Flow for ALGN in the course of the last twelve months was 45.59 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for ALGN stock

Align Technology Inc. [ALGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.04. With this latest performance, ALGN shares dropped by -5.14% in over the last four-week period, additionally sinking by -12.12% over the last 6 months – not to mention a drop of -66.45% 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 54.81, with the RSI for the last a single of trading hit 60.22, and the three-weeks RSI is set at 51.53 for Align Technology Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 197.96, while it was recorded at 196.04 for the last single week of trading, and 275.89 for the last 200 days.

Align Technology Inc. [ALGN]: A deeper dive into fundamental analysis

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 1.40.

Align Technology Inc. [ALGN]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Align Technology Inc. [ALGN]

There are presently around $13,685 million, or 89.30% of ALGN stock, in the hands of institutional investors. The top three institutional holders of ALGN stocks are: VANGUARD GROUP INC with ownership of 8,213,345, which is approximately 12.148% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 5,506,555 shares of the stock with an approximate value of $1.11 billion in ALGN stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $782.72 million in ALGN stock with ownership of nearly -5.772% of the company’s market capitalization.

Positions in Align Technology Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 354 institutional holders increased their position in Align Technology Inc. [NASDAQ:ALGN] by around 4,876,968 shares. Additionally, 354 investors decreased positions by around 5,981,989 shares, while 114 investors held positions by with 56,896,435 shares. The mentioned changes placed institutional holdings at 67,755,392 shares, according to the latest SEC report filing. ALGN stock had 71 new institutional investments in for a total of 757,570 shares, while 91 institutional investors sold positions of 358,391 shares during the same period.


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