Align Technology Given New $74.00 Price Target at JMP Securities (ALGN)
JMP Securities hoisted their price target on shares of Align Technology (NASDAQ:ALGN) from $64.00 to $74.00 in a research note issued on Friday, AnalystRatingsNetwork reports. JMP Securities’ target price suggests a potential upside of 24.54% from the stock’s previous close.
Shares of Align Technology (NASDAQ:ALGN) traded up 1.59% during mid-day trading on Friday, hitting $59.42. 2,423,066 shares of the company’s stock traded hands. Align Technology has a 1-year low of $29.53 and a 1-year high of $65.10. The stock has a 50-day moving average of $58.87 and a 200-day moving average of $51.18. The company has a market cap of $4.772 billion and a price-to-earnings ratio of 153.92.
Align Technology (NASDAQ:ALGN) last released its earnings data on Friday, January 31st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.08. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $172.24 million. Analysts expect that Align Technology will post $1.72 EPS for the current fiscal year.
A number of other firms have also recently commented on ALGN. Analysts at Stifel Nicolaus raised their price target on shares of Align Technology from $60.00 to $65.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Align Technology from $60.00 to $65.00 in a research note to investors on Tuesday. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Align Technology in a research note to investors on Friday, January 10th. They now have a $72.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.44.
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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