In its upcoming report, Align Technology (ALGN) is predicted by Wall Street analysts to post quarterly earnings of $2.99 per share, reflecting an increase of 22.5% compared to the same period last year. Revenues are forecasted to be $1.03 billion, representing a year-over-year increase of 3.9%.
Over the last 30 days, there has been an upward revision of 1.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Align Technology metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Net revenues- Imaging Systems and CAD/CAM Services' of $208.31 million. The estimate points to a change of +3.7% from the year-ago quarter.
Analysts forecast 'Net revenues- Clear Aligner' to reach $825.06 million. The estimate indicates a year-over-year change of +3.9%.
The consensus among analysts is that 'Clear Aligner Shipments' will reach 655 . The estimate compares to the year-ago value of 629 .
View all Key Company Metrics for Align Technology here>>>Over the past month, Align Technology shares have recorded returns of +2.2% versus the Zacks S&P 500 composite's +1.8% change. Based on its Zacks Rank #2 (Buy), ALGN will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
