While Align Technology, Inc. has underperformed by -2.97%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALGN fell by -20.58%, with highs and lows ranging from $335.40 to $176.34, whereas the simple moving average fell by -11.39% in the last 200 days.
On February 26, 2024, Leerink Partners started tracking Align Technology, Inc. (NASDAQ: ALGN) recommending Market Perform. A report published by Goldman on December 11, 2023, Downgraded its rating to ‘Sell’ for ALGN. UBS also Downgraded ALGN shares as ‘Neutral’, setting a target price of $200 on the company’s shares in a report dated October 27, 2023. Goldman February 02, 2023d the rating to Neutral on February 02, 2023, and set its price target from $165 to $307. Goldman July 28, 2022d its ‘Buy’ rating to ‘Sell’ for ALGN, as published in its report on July 28, 2022. UBS’s report from January 31, 2022 suggests a price prediction of $620 for ALGN shares, giving the stock a ‘Buy’ rating. Morgan Stanley also rated the stock as ‘Overweight’.
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Analysis of Align Technology, Inc. (ALGN)
Further, the quarter-over-quarter increase in sales is 2.63%, showing a positive trend in the upcoming months.
Align Technology, Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 12.09% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.06, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and ALGN is registering an average volume of 762.40K. On a monthly basis, the volatility of the stock is set at 3.70%, whereas on a weekly basis, it is put at 3.62%, with a loss of -1.81% over the past seven days. Furthermore, long-term investors anticipate a median target price of $291.09, showing growth from the present price of $238.06, which can serve as yet another indication of whether ALGN is worth investing in or should be passed over.
How Do You Analyze Align Technology, Inc. Shares?
A giant in the Medical Instruments & Supplies market, Align Technology, Inc. (ALGN) is based in the USA. When comparing Align Technology, Inc. shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 40.39, there is a growth in quarterly earnings of -11.95%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 6.92%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 88.07% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ALGN shares are owned by institutional investors to the tune of 88.07% at present.
