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Align Technology (ALGN) Dips More Than Broader Markets: What You Should Know
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Align Technology (ALGN - Free Report) closed the most recent trading day at $467.99, moving -1.36% from the previous trading session. This change lagged the S&P 500's 1.22% loss on the day. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.53%.
Coming into today, shares of the maker of the Invisalign tooth-straightening system had lost 28.23% in the past month. In that same time, the Medical sector lost 11.24%, while the S&P 500 lost 6.58%.
Wall Street will be looking for positivity from Align Technology as it approaches its next earnings report date. This is expected to be February 2, 2022. In that report, analysts expect Align Technology to post earnings of $2.67 per share. This would mark year-over-year growth of 2.3%. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 22.23% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Align Technology. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Align Technology is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Align Technology is holding a Forward P/E ratio of 35.52. For comparison, its industry has an average Forward P/E of 19.3, which means Align Technology is trading at a premium to the group.
It is also worth noting that ALGN currently has a PEG ratio of 1.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Align Technology (ALGN) Dips More Than Broader Markets: What You Should Know
Align Technology (ALGN - Free Report) closed the most recent trading day at $467.99, moving -1.36% from the previous trading session. This change lagged the S&P 500's 1.22% loss on the day. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.53%.
Coming into today, shares of the maker of the Invisalign tooth-straightening system had lost 28.23% in the past month. In that same time, the Medical sector lost 11.24%, while the S&P 500 lost 6.58%.
Wall Street will be looking for positivity from Align Technology as it approaches its next earnings report date. This is expected to be February 2, 2022. In that report, analysts expect Align Technology to post earnings of $2.67 per share. This would mark year-over-year growth of 2.3%. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, up 22.23% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Align Technology. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. Align Technology is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Align Technology is holding a Forward P/E ratio of 35.52. For comparison, its industry has an average Forward P/E of 19.3, which means Align Technology is trading at a premium to the group.
It is also worth noting that ALGN currently has a PEG ratio of 1.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.