Are analysts optimistic about Align Technology Inc.’s (NASDAQ:ALGN) stock?

Align Technology Inc. (NASDAQ: ALGN) closed the day trading at $342.46 down -0.19% from the previous closing price of $343.10. In other words, the price has decreased by -$0.64 from its previous closing price. On the day, 2007460 shares were traded. ALGN stock price reached its highest trading level at $364.76 during the session, while it also had its lowest trading level at $341.87.

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For a better understanding of ALGN, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 25.72 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 72.20. For the most recent quarter (mrq), Quick Ratio is recorded 1.20 and its Current Ratio is at 1.40. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Goldman on February 02, 2023, Upgraded its rating to Neutral and sets its target price to $307 from $165 previously.

On July 28, 2022, Goldman Downgraded its rating to Sell which previously was Buy and also lowered its target price recommendation from $380 to $250.

UBS Upgraded its Neutral to Buy on January 31, 2022, whereas the target price for the stock was revised from $880 to $620.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 02 when Thaler Warren S bought 1,050 shares for $191.21 per share. The transaction valued at 200,770 led to the insider holds 30,666 shares of the business.

Myong Anne bought 1,500 shares of ALGN for $285,385 on Nov 02. The Director now owns 4,794 shares after completing the transaction at $190.26 per share. On Nov 02, another insider, HOGAN JOSEPH M, who serves as the President and CEO of the company, bought 10,600 shares for $188.58 each. As a result, the insider paid 1,998,987 and bolstered with 185,401 shares of the company.

Valuation Measures:

As of this moment, Align’s Price-to-Earnings (P/E) ratio for their current fiscal year is 74.46, and their Forward P/E ratio for the next fiscal year is 34.94. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.72. For the stock, the TTM Price-to-Sale (P/S) ratio is 7.51 while its Price-to-Book (P/B) ratio in mrq is 7.24.

Stock Price History:

Over the past 52 weeks, ALGN has reached a high of $552.00, while it has fallen to a 52-week low of $172.05. The 50-Day Moving Average of the stock is 226.21, while the 200-Day Moving Average is calculated to be 244.10.

Shares Statistics:

Over the past 3-months, ALGN traded about 1.07M shares per day on average, while over the past 10 days, ALGN traded about 1.65M shares per day. A total of 78.09M shares are outstanding, with a floating share count of 73.17M. Insiders hold about 0.30% of the company’s shares, while institutions hold 89.30% stake in the company. Shares short for ALGN as of Oct 13, 2022 were 2.33M with a Short Ratio of 2.30M, compared to 2.07M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.99% and a Short% of Float of 3.00%.

Earnings Estimates

Current recommendations for the stock of the company come from 9 analysts. On average, analysts expect EPS of $1.67 for the current quarter, with a high estimate of $2.36 and a low estimate of $1.35, while EPS last year was $2.83. The consensus estimate for the next quarter is $1.95, with high estimates of $2.54 and low estimates of $1.69.

Analysts are recommending an EPS of between $8.65 and $6.85 for the fiscal current year, implying an average EPS of $7.37. EPS for the following year is $8.38, with 12 analysts recommending between $10.19 and $7.15.

Revenue Estimates

10 analysts predict $924.87M in revenue for the current quarter. It ranges from a high estimate of $1.04B to a low estimate of $866.88M. As of the current estimate, Align Technology Inc.’s year-ago sales were $1.03B, an estimated decrease of -10.30% from the year-ago figure. For the next quarter, 7 analysts are estimating revenue of $905.26M, a decrease of -7.00% over than the figure of -$10.30% in the same quarter last year. There is a high estimate of $1.04B for the next quarter, whereas the lowest estimate is $833.92M.

A total of 13 analysts have provided revenue estimates for ALGN’s current fiscal year. The highest revenue estimate was $4.16B, while the lowest revenue estimate was $3.7B, resulting in an average revenue estimate of $3.81B. In the same quarter a year ago, actual revenue was $3.95B, down -3.70% from the average estimate. Based on 13 analysts’ estimates, the company’s revenue will be $3.92B in the next fiscal year. The high estimate is $4.58B and the low estimate is $3.4B. The average revenue growth estimate for next year is up 2.90% from the average revenue estimate for this year.