Align Technology Inc. Reaches New 12-Month High at $60.87 (ALGN)
Shares of Align Technology (NASDAQ:ALGN) hit a new 52-week high on Monday, AnalystRatingsNetwork reports. The company traded as high as $60.87 and last traded at $60.65, with a volume of 1,576,120 shares trading hands. The stock had previously closed at $57.17.
ALGN has been the subject of a number of recent research reports. Analysts at Roth Capital raised their price target on shares of Align Technology from $46.00 to $56.00 in a research note to investors on Friday, October 18th. They now have a “buy” rating on the stock. Separately, 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, October 18th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Align Technology in a research note to investors on Friday, October 18th. They now have a $55.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $48.50.
Align Technology has a 52-week low of $25.61 and a 52-week high of $60.00. The stock has a 50-day moving average of $55.41 and a 200-day moving average of $48.03. The company has a market cap of $4.811 billion and a price-to-earnings ratio of 150.45.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters 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 last year, the company posted $0.28 earnings per share. Align Technology’s revenue was up 20.5% compared to the same quarter last year. Analysts expect that Align Technology will post $1.47 EPS for the current fiscal year.
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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