Align Technology Inc. [NASDAQ: ALGN] plunged by -$36.82 during the normal trading session on Thursday and reaching a high of $326.55 during the day while it closed the day at $317.73. The company report on April 26, 2023 at 4:01 PM that Align Technology Announces First Quarter 2023 Financial Results.
Delivers revenue and EPS ahead of expectations, with total Invisalign® patients treated surpassing 15 million globally.
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Align Technology Inc. stock has also loss -9.84% of its value over the past 7 days. However, ALGN stock has inclined by 20.83% in the 3 months of the year. Over the past six months meanwhile, it has gained 45.76% and gained 50.65% year-on date.
The market cap for ALGN stock reached $24.19 billion, with 77.54 million shares outstanding and 73.17 million shares in the current float. Compared to the average trading volume of 985.48K shares, ALGN reached a trading volume of 2438887 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 $344.50 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 12.88, with the Price to Sales ratio for ALGN stock in the period of the last 12 months amounting to 6.48. The Price to Book ratio for the last quarter was 6.84, with the Price to Cash per share for the same quarter was set at 13.13. Price to Free Cash Flow for ALGN in the course of the last twelve months was 87.40 with Quick ratio for the last quarter at 1.10.
ALGN stock trade performance evaluation
Align Technology Inc. [ALGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.84. With this latest performance, ALGN shares gained by 4.07% in over the last four-week period, additionally plugging by 45.76% over the last 6 months – not to mention a drop of -12.06% 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 41.78, with the RSI for the last a single of trading hit 34.65, and the three-weeks RSI is set at 46.28 for Align Technology Inc. [ALGN]. The present Moving Average for the last 50 days of trading for this stock 325.47, while it was recorded at 348.40 for the last single week of trading, and 258.66 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 +17.51 and a Gross Margin at +70.96. Align Technology Inc.’s Net Margin is presently recorded at +9.68.
Return on Total Capital for ALGN is now 17.50, given the latest momentum, and Return on Invested Capital for the company is 9.74. Return on Equity for this stock inclined to 10.01, with Return on Assets sitting at 6.08. When it comes to the capital structure of this company, Align Technology Inc. [ALGN] has a Total Debt to Total Equity ratio set at 3.52. Additionally, ALGN Total Debt to Total Capital is recorded at 3.40, with Total Debt to Total Assets ending up at 2.13. Long-Term Debt to Equity for the company is recorded at 2.79, with the Long-Term Debt to Total Capital now at 2.69.
Reflecting on the efficiency of the workforce at the company, Align Technology Inc. [ALGN] managed to generate an average of $15,609 per employee. Receivables Turnover for the company is 3.94 with a Total Asset Turnover recorded at a value of 0.63.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 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 $23,325 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 8,329,757, which is approximately 1.417% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 5,472,882 shares of the stock with an approximate value of $1.94 billion in ALGN stocks shares; and EDGEWOOD MANAGEMENT LLC, currently with $1.21 billion in ALGN stock with ownership of nearly -12.032% of the company’s market capitalization.
Positions in Align Technology Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 362 institutional holders increased their position in Align Technology Inc. [NASDAQ:ALGN] by around 6,498,799 shares. Additionally, 371 investors decreased positions by around 7,778,074 shares, while 91 investors held positions by with 51,510,058 shares. The mentioned changes placed institutional holdings at 65,786,931 shares, according to the latest SEC report filing. ALGN stock had 101 new institutional investments in for a total of 950,265 shares, while 98 institutional investors sold positions of 854,177 shares during the same period.