Leerink Partners analyst Michael Cherny maintains $Align Technology (ALGN.US)$ with a hold rating, and adjusts the target price from $349 to $235.
According to TipRanks data, the analyst has a success rate of 46.2% and a total average return of 1.7% 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's shares may experience a decline as a result of volumes that did not meet expectations and fourth-quarter targets falling short of both internal and broader market projections, set against the backdrop of persistent weak demand. Despite this, the company's performance may be bolstered by a robust buyback program and anticipated margin improvements by 2025, alongside efforts to manage aspects within its control.
The third quarter for Align Technology presented minimal surprises, though revenue was slightly below the general consensus. It is anticipated that there will be a reduction in top-line estimates for the year 2025 after this reporting. Despite this, with the stock having already experienced a downturn prior to the report, and currently trading at approximately 20 times the estimated earnings for 2025, further significant declines might be constrained.
The firm noted that Align Technology's third-quarter revenue and case shipments fell short of both the Street's expectations and the company's own guidance, while the forecast for the fourth quarter was set below expectations. These developments are not seen as positive and are anticipated to impact the stock negatively.
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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