Align Technology Inc. (NASDAQ:ALGN) Lost -4.09% In A Week: What’s Driving The Stock? – Marketing Sentinel
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Align Technology Inc. (NASDAQ:ALGN) Lost -4.09% In A Week: What’s Driving The Stock?

In last trading session, Align Technology Inc. (NASDAQ:ALGN) saw 0.8 million shares changing hands with its beta currently measuring 1.60. Company’s recent per share price level of $524.63 trading at -$0.15 or -0.03% at ring of the bell on the day assigns it a market valuation of $42.93B. That closing price of ALGN’s stock is at a discount of -40.57% from its 52-week high price of $737.45 and is indicating a premium of 5.75% from its 52-week low price of $494.45. Taking a look at company’s average trading volume of 657.62K if we extend that period to 3-months.

For Align Technology Inc. (ALGN), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 13 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 9 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $2.73 in the current quarter.

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Align Technology Inc. (NASDAQ:ALGN) trade information

Upright in the red during last session for losing -0.03%, in the last five days ALGN remained trading in the red while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $524.63 price level, adding 6.69% to its value on the day. Align Technology Inc.’s shares saw a change of -20.17% in year-to-date performance and have moved -4.09% in past 5-day. Align Technology Inc. (NASDAQ:ALGN) showed a performance of -12.85% in past 30-days.

Wall Street analysts have assigned a consensus price target of $759.73 to the stock, which implies a rise of 30.95% to its current value. Analysts have been projecting $550.00 as a low price target for the stock while placing it at a high target of $850.00. It follows that stock’s current price would drop -62.02% in reaching the projected high whereas dropping to the targeted low would mean a loss of -4.84% for stock’s current value.

Align Technology Inc. (ALGN) estimates and forecasts

Statistics highlight that Align Technology Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -11.91% of value to its shares in past 6 months, showing an annual growth rate of 111.43% while that of industry is 15.50. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 4.60% in the current quarter and calculating 19.30% increase in the next quarter. This year revenue growth is estimated to rise 59.50% from the last financial year’s standing.

10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.02 billion for the same. And 8 analysts are in estimates of company making revenue of $1.09 billion in the next quarter that will end on Mar 2022. Company posted $834.52 million and $818.16 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 22.30% while estimating it to be 33.20% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 66.20% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 305.50% while estimates for its earnings growth in next 5 years are of 43.25%.

ALGN Dividends

Align Technology Inc. is more likely to be releasing its next quarterly report between February 01 and February 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Align Technology Inc. (NASDAQ:ALGN)’s Major holders

Insiders are in possession of 6.70% of company’s total shares while institution are holding 87.52 percent of that, with stock having share float percentage of 93.80%. Investors also watch the number of corporate investors in a company very closely, which is 87.52% institutions for Align Technology Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at ALGN for having 5.88 million shares of worth $3.91 billion. And as of Sep 29, 2021, it was holding 7.45% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 5.52 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 7.00% of outstanding shares, having a total worth of $3.67 billion.

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On the other hand, Advisors Inner Circle Fund-Edgewood Growth Fd and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 2.44 million shares of worth $1.62 billion or 3.09% of the total outstanding shares. The later fund manager was in possession of 2.12 million shares on Sep 29, 2021, making its stake of worth around $1.41 billion in the company or a holder of 2.69% of company’s stock.

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