Align Technology Price Target Increased to $52.00 by Analysts at Jefferies Group (ALGN)
Stock analysts at Jefferies Group upped their price target on shares of Align Technology (NASDAQ:ALGN) from $43.00 to $52.00 in a report issued on Friday, Analyst Ratings News reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential downside of 10.31% 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 52 week low of $23.45 and a 52 week high of $49.26. The stock has a 50-day moving average of $46.06 and a 200-day moving average of $39.62. The company’s market cap is $4.629 billion.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ 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.
A number of other analysts have also recently weighed in on ALGN. 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. Separately, 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. Finally, analysts at Stifel Nicolaus raised their price target on shares of Align Technology from $54.00 to $57.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Align Technology presently has an average rating of “Hold” and an average price target 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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