Align Technology Given New $56.00 Price Target at Roth Capital (ALGN)
Research analysts at Roth Capital upped their target price on shares of Align Technology (NASDAQ:ALGN) from $46.00 to $56.00 in a report released on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Roth Capital’s price objective points to a potential downside of 3.41% from the stock’s previous close.
Align Technology (NASDAQ:ALGN) traded up 26.24% on Friday, hitting $57.98. The stock had a trading volume of 7,357,871 shares. Align Technology has a 1-year low of $23.45 and a 1-year high of $49.26. The stock’s 50-day moving average is $46.06 and its 200-day moving average is $39.62. The company’s market cap is $4.629 billion.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 17th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. The company had revenue of $164.50 million for the quarter, compared to the consensus estimate of $158.64 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts predict that Align Technology will post $1.28 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Align Technology from $43.00 to $52.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Align Technology in a research note to investors on Friday. They now have a $55.00 price target on the stock. Finally, analysts at Robert W. Baird reiterated a “hold” rating on shares of Align Technology in a research note to investors on Friday. They now have a $49.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Align Technology has an average rating of “Hold” and a consensus target price of $43.69.
Align Technology, Inc (NASDAQ:ALGN), designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics, and dental records storage.
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