During the last session, Align Technology Inc. (NASDAQ:ALGN)’s traded shares were 0.35 million, with the beta value of the company hitting 1.69. At the end of the trading day, the stock’s price was $721.50, reflecting an intraday loss of -1.03% or -$7.53. The 52-week high for the ALGN share is $731.72, that puts it down -1.42 from that peak though still a striking 58.77% gain since the share price plummeted to a 52-week low of $297.44. The company’s market capitalization is $56.58B, and the average intraday trading volume over the past 10 days was 0.47 million shares, and the average trade volume was 561.65K shares over the past three months.
Align Technology Inc. (ALGN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.80. ALGN has a Sell rating from 1 analyst(s) out of 16 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 12 recommend a Buy rating for it. 2 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.61.
Align Technology Inc. (NASDAQ:ALGN) trade information
Align Technology Inc. (ALGN) registered a -1.03% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.03% in intraday trading to $721.50 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is 2.80%, and it has moved by 3.19% in 30 days. Based on these gigs, the overall price performance for the year is 129.40%. The short interest in Align Technology Inc. (NASDAQ:ALGN) is 2.04 million shares and it means that shorts have 4.25 day(s) to cover.
The consensus price target of analysts on Wall Street is $745.36, which implies an increase of 3.2% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $500.00 and $825.00 respectively. As a result, ALGN is trading at a discount of -14.35% off the target high and 30.7% off the low.
Align Technology Inc. (ALGN) estimates and forecasts
Statistics show that Align Technology Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Align Technology Inc. (ALGN) shares have gone up 45.44% during the last six months, with a year-to-date growth rate more than the industry average at 109.33% against 23.80. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 16.00% this quarter and then jump 8.80% in the quarter after that. In the rating firms’ projections, revenue will increase 59.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $980.32 million as predicted by 14 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $1.05 billion by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $514.4 million and $834.52 million respectively. In this case, analysts expect current quarter sales to grow by 90.60% and then jump by 25.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 66.20%. While earnings are projected to return 305.50% in 2021, the next five years will return 31.83% per annum.
Align Technology Inc. is due to release its next quarterly earnings on October 27. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Align Technology Inc. (NASDAQ:ALGN)’s Major holders
Align Technology Inc. insiders own 6.77% of total outstanding shares while institutional holders control 87.77%, with the float percentage being 94.14%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,170 institutions own stock in it. As of Mar 30, 2021, the company held over 6.61 million shares (or 8.35% of all shares), a total value of $3.58 billion in shares.
The next largest institutional holding, with 5.76 million shares, is of Blackrock Inc.’s that is approximately 7.28% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $3.12 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Align Technology Inc. (ALGN) shares are Advisors Inner Circle Fund-Edgewood Growth Fd and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2021 indicates that Advisors Inner Circle Fund-Edgewood Growth Fd owns about 2.42 million shares. This amounts to just over 3.06 percent of the company’s overall shares, with a $1.31 billion market value. The same data shows that the other fund manager holds slightly less at 2.0 million, or about 2.53% of the stock, which is worth about $1.08 billion.