Align Technology Inc. (NASDAQ:ALGN) saw an upside of 0.34% to close Friday at $350.36 after adding $1.18 on the day. The 5-day average trading volume is 517,880 shares of the company’s common stock. It has gained $364.70 in the past week and touched a new high 2 times within the past 5 days. An average of 795,435 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 744,328.
ALGN’s 1-month performance is 5.85% or -$10.26 on its low of $324.89 reached on 07/25/23. The company’s shares have touched a 52-week low of $172.05 and high of $413.20, with the stock’s rally to the 52-week high happening on 07/27/23. YTD, ALGN has achieved 66.13% or $139.46 and has reached a new high 16 times. However, the current price is down -15.21% from the 52-week high price.
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Valuation Metrics
ALGN stock has a beta of 1.63. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 7.15 while the price-to-book (PB) in the most recent quarter is 7.37, with the price to cash flow ratio at 43.69.
Align Technology Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.20. In terms of profitability, the gross margin trailing 12 months is 69.90%. The trailing 12-month EBITDA margin is 21.70% while for the period ending June 29, Align Technology Inc.’s operating margin was 15.00%. The firm’s gross profit as reported stood at $2.63 billion against revenue of $3.73 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -0.89% to $111.81 million, while revenue of $87.8 million was 21.47% off the previous quarter. Analysts expected ALGN to announce $2.03 per share in earnings in its latest quarter, but it posted $2.22, representing a 9.40% surprise. EBITDA for the quarter stood at more than $207.75 million. ALGN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.51 billion, with total debt at $133.42 million. Shareholders hold equity totaling $76.53 million.
Let’s look briefly at Align Technology Inc. (ALGN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 43.29% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.99%.
The stock’s 5-day moving average is $355.92, reflecting a -0.71% or -$2.52 change from its current price. ALGN is currently trading +3.85% above its 20-day SMA, +14.52% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +16.12% and SMA200 by+80.32%.
Stochastic %K and %D was 22.64% and 26.12% and the average true range (ATR) pointed at 10.57. The RSI (14) points at 47.73%, while the 14-day stochastic is at 21.74% with the period’s ATR at 11.23. The stock’s 9-day MACD Oscillator is pointing at -1.78 and -6.11 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Align Technology Inc. (NASDAQ: ALGN), Goldman upgraded it to a Neutral rating. They previously had a Sell rating on the stock. Analysts offering their rating for ALGN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ALGN as a “sell,”, while 5 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.
What is ALGN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $270.00 and a high of $440.00, with their median price target at $400.00. Looking at these predictions, the average price target given by analysts is for Align Technology Inc. (ALGN) stock is $389.55.
