Evercore analyst Elizabeth Anderson CFA maintains $Align Technology (ALGN.US)$ with a buy rating, and adjusts the target price from $270 to $250.
According to TipRanks data, the analyst has a success rate of 38.3% and a total average return of -7.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Align Technology (ALGN.US)$'s main analysts recently are as follows:
Align Technology shares may experience a decline due to unsatisfactory volume levels and fourth-quarter targets that fell short of both the analyst's and broader market expectations against a backdrop of ongoing sluggish demand. Despite this, anticipations were modest, and the company is enhancing its buyback program, with indications of margin improvement by 2025, while focusing on areas within its influence.
Q3 for Align Technology came with minimal surprises, although revenue was slightly below the anticipated consensus. It is projected that the revenue forecasts for 2025 might be adjusted down in light of this report. Yet, considering the stock's prior weak performance and its valuation at approximately 20 times the estimated earnings for 2025, further declines in stock value may be restricted.
Concerns were raised regarding Align Technology following a reported miss in the third-quarter revenue and case shipments, which fell short of the Street's expectations and guidance. Furthermore, the management's forecast for the fourth quarter did not meet anticipated levels, which is expected to adversely affect the company's stock value.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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