Align Technology, Inc. (ALGN) Stock Price & How to Invest

Align Technology is a global medical device company best known for Invisalign, the clear-aligner system that has become the dominant alternative to traditional metal braces, and for iTero, its line of intraoral scanners used to capture digital impressions and plan treatment. The business splits into two segments: Clear Aligner, which generated roughly $3.2 billion of Align's approximately $4.0 billion in fiscal 2025 revenue (trailing revenue had reached about $4.14 billion by mid-2026), and Imaging Systems and CAD/CAM services (iTero and exocad software), which added about $0.8 billion. Align sells primarily through orthodontists and general dentists, and its scanners feed cases directly into the Invisalign workflow, creating a self-reinforcing ecosystem.

The investment picture is a high-quality franchise navigating a maturing growth phase. Align holds a leading share of a large, still-underpenetrated clear-aligner market with strong brand recognition and high gross margins near 70 percent, but revenue growth has slowed to low single digits as North America matures and lower-priced rivals expand. Recent results show renewed volume momentum internationally: second-quarter 2026 revenue was about $1.06 billion, up roughly 4% year over year, with adjusted EPS of $2.64 just ahead of the $2.60 estimate, and the company continues to return cash through buybacks. The shares have de-rated during 2026, falling about 16% in the three months to October 16 as Evercore ISI and Baird downgraded the stock, so the debate centers on whether Align can convert its ecosystem advantage and international runway into faster growth while defending pricing.

Growth has decelerated to low single digits as the North American clear-aligner market matures and consumers pull back on discretionary, often out-of-pocket dental spending during economic softness. Competition is intensifying from lower-priced systems such as Straumann's ClearCorrect, Dentsply Sirona's SureSmile, and Envista's Spark, which can pressure both volume and pricing. Align manufactures aligners in Mexico and ships them to the United States, exposing it to tariff and trade-policy shifts, and a large portion of revenue is international, adding foreign-exchange sensitivity. Sentiment has already turned: in October 2026 Evercore ISI cut the stock to In Line with a $155 target and Baird moved to Neutral at $162, while Stifel and Leerink lowered targets, and a growth stumble in the October 28 report could extend that reaction. Trailing GAAP earnings also fell about 12% year over year in the latest quarter even as revenue grew. Patent expirations over time may further lower barriers to entry for competitors.

14 analysts publish price targets on ALGN, averaging $193.79 against a $147.31 price as of October 2026, or +31.6%. The published targets run from $155.00 to $235.00, a moderate spread, and the ratings split 8 buy, 7 hold, 1 sell. Over the last six months there have been 4 raises and 4 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full ALGN forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Align Technology, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Clear-aligner market penetration. Clear aligners still represent a minority of the roughly 500 million people worldwide with malocclusion, leaving a long runway as treatment shifts away from metal braces. The most optimistic published target, $235.00, assumes this works close to its best case.

The case against. Growth has decelerated to low single digits as the North American clear-aligner market matures and consumers pull back on discretionary, often out-of-pocket dental spending during economic softness. The most pessimistic target, $155.00, is roughly what ALGN is worth if this bites instead.

Read the full bull and bear case on ALGN, including what would have to change to break either one. Walnut is not an investment adviser.

No. Align Technology, Inc. (ALGN) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Align Technology, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$4.14B, up ~4% YoY in the latest quarter
• Revenue (Q2 2026): ~$1.06B; adjusted EPS $2.64 vs $2.60 expected
• Margins (TTM): ~71% gross, ~18% operating, ~10% net
• Net income (TTM): ~$414M GAAP
• P/E ratio: ~26x trailing, ~12x forward
• Market cap: ~$10.6B (stock ~$149)
• Dividend: None
• Next earnings: October 28, 2026; consensus ~$2.78 EPS on ~$1.01B revenue

As of October 16, 2026, Align carried trailing revenue of about $4.14 billion and a market capitalization near $10.6 billion, down from roughly $13 billion in July. At about 12 times forward earnings and 2.6 times sales, the stock no longer trades at the premium multiple it once commanded; the 14 analysts tracked by Yahoo Finance still had a mean target near $194, though several cut targets in October. The third-quarter report on October 28 is the next test of whether volume growth is holding.

Other names that sit close to ALGN: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get ALGN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so ALGN sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where ALGN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

ALGN is the category-defining clear-aligner leader whose shares (about $149 on October 16, 2026, down roughly 4.5% year to date) now trade near 12 times forward earnings after a run of analyst downgrades, so the story hinges on whether Invisalign volume growth can reaccelerate against rising low-cost competition and cyclical consumer spending.

Whether ALGN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ALGN a buy or a sell?, and where the stock could go from here in the ALGN stock forecast.

For income investors, whether ALGN pays a dividend and how the payout looks is covered in does ALGN pay a dividend? And to weigh ALGN against a peer, read the full side-by-side comparisons: ALGN vs NVST and ALGN vs MMED.