Jefferies Sees Upside for Align Technology (ALGN) Earnings
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Jefferies analyst Brandon Couillard reiterated a Buy rating and $630.00 price target on Align Technology (NASDAQ: ALGN) expecting the company to beat expectations when it reports. The analyst uses proprietary webscrapes seek to highlight which co's are benefiting most from the accelerated shift toward clear aligners post-pandemic. His March data shows ALGN's web traffic accelerated again (+9% M/M).
The analyst stated "latest checks show Invisalign's global web traffic accelerated again in March (+155% y/y vs +106% in Feb), reflecting healthy M/M trends (daily visits: +9%). Overall 1Q21 website visits rose +11% vs 4Q levels (~2x faster than historical Q/Q case volume growth), giving us added conviction in our above-consensus 1Q revenue forecast of $852M (+4% vs Street)."
Shares of Align Technology closed at $606.23 yesterday.
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