why Align Technology Inc. [ALGN] is a Good Choice for Investors After New Price Target of $233.22

Align Technology Inc. [NASDAQ: ALGN] closed the trading session at $359.88 on 02/02/23. The day’s price range saw the stock hit a low of $332.602, while the highest price level was $368.87. The company report on February 1, 2023 that Align Technology Announces Fourth Quarter and Fiscal 2022 Financial Results.

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Q4 total revenues of $901.5 million and 2022 total revenues of $3.7 billion.

Board of Directors has authorized a new $1 billion stock repurchase program, to succeed the current $1 billion program that is expected to be completed in Q2 2023.

The stocks have a year to date performance of 70.64 percent and weekly performance of 36.86 percent. The stock has been moved at 25.74 percent over the last six months. The stock has performed 69.53 percent around the most recent 30 days and changed 86.41 percent over the most recent 3-months.

If compared to the average trading volume of 1.01M shares, ALGN reached to a volume of 4434681 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $233.22 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 Neutral, with their previous recommendation back on February 02, 2023. While these analysts kept the previous recommendation, Goldman dropped their target price from $380 to $250. The new note on the price target was released on July 28, 2022, representing the official price target for Align Technology Inc. stock. Previously, the target price had yet another drop from $880 to $620, while UBS kept a Buy rating on ALGN stock.

The Average True Range (ATR) for Align Technology Inc. is set at 14.83, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 7.11. The Price to Book ratio for the last quarter was 7.61, with the Price to Cash per share for the same quarter was set at 14.29. Price to Free Cash Flow for ALGN in the course of the last twelve months was 78.66 with Quick ratio for the last quarter at 1.20.

ALGN stock trade performance evaluation

Align Technology Inc. [ALGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 36.86. With this latest performance, ALGN shares gained by 69.53% in over the last four-week period, additionally plugging by 25.74% over the last 6 months – not to mention a drop of -29.24% 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 90.82, with the RSI for the last a single of trading hit 94.17, and the three-weeks RSI is set at 86.43 for Align Technology Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 220.16, while it was recorded at 289.43 for the last single week of trading, and 244.89 for the last 200 days.

Align Technology Inc. [ALGN]: An insightful look at the core 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 1.40.

Earnings per share (EPS) analysis for Align Technology Inc. [ALGN] stock

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 Ownership positions

There are presently around $24,173 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 $1.98 billion in ALGN stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $1.39 billion 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 February and at the time of the February reporting period, where 351 institutional holders increased their position in Align Technology Inc. [NASDAQ:ALGN] by around 5,119,766 shares. Additionally, 365 investors decreased positions by around 6,232,584 shares, while 103 investors held positions by with 55,816,666 shares. The mentioned changes placed institutional holdings at 67,169,016 shares, according to the latest SEC report filing. ALGN stock had 79 new institutional investments in for a total of 657,310 shares, while 100 institutional investors sold positions of 749,430 shares during the same period.


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