Baird lowered the firm’s price target on Align Technology to $260 from $375 and keeps an Outperform rating on the shares. The firm said 3Q results fell short of consensus and 4Q revenue was guided below the Street, highlighting a fairly quick/recent turn-down in consumer spending.
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Read More on ALGN:
- Here’s Why Align Technology Stock (NASDAQ:ALGN) Tanked Yesterday
- Align Technology falls 22% to $199.01 after Q3 earnings miss, FY23 guidance cut
- Align Technology cuts FY23 revenue view to $3.83B-$3.85B from $3.97B-$3.99B
- Align Technology sees Q4 revenue $920M-$940M, consensus $1.02B
- Align Technology reports Q3 EPS $2.14, consensus $2.27