Align Technology (ALGN) Showed Continued Momentum in Feb - Jefferies

March 12, 2021 7:44 AM EST
Get Alerts ALGN Hot Sheet
Price: $701.67 -2.46%

Rating Summary:
    20 Buy, 6 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 8 | New: 24
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Jefferies analyst Brandon Couillard reiterated a Buy rating and $630.00 price target on Align Technology (NASDAQ: ALGN) after February data show continued momentum.

" ...our checks con't to show strong momentum in 4Q has carried over to 1Q, giving us added confidence that Street ests. for 1Q21 are likely too low. Key data points: 1) Global website visits:a) traffic accelerated further in Feb (+108% y/y vs +91% in Jan / +73% in 4Q20); b) Feb daily visits grew +4% M/M; and, c) Jan/Feb daily visits are up +7% vs 4Q... 2) Leading indicators: doc locator searches & smile assessments also con't to trend positively vs 4Qlevels -- up 19% Q/Q (+130% y/y) and 12% Q/Q (+160% y/y), respectively."

Further, the firm noted "sustained momentum" for DENTSPLY SIRONA's (NASDAQ: XRAY) Byte, while SmileDirectClub, Inc. ((NASDAQ: SDC) was mixed with website visits tracking +9% Q/Q, but check-out traffic lagging.

For an analyst ratings summary and ratings history on Align Technology click here. For more ratings news on Align Technology click here.

Shares of Align Technology closed at $544.00 yesterday.

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