Align rebounds as Evercore points to “encouraging” Google trends (updated)
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The maker of Invisalign clear aligners, Align Technology (NASDAQ:ALGN
+5.6%), has bounced back from a year-to-date loss to stand among the best performers of the S&P 500 on Tuesday
The uptick has coincided with favorable Google trends data highlighted by Evercore ISI analyst Elizabeth Anderson for the companyâs main revenue generator, Invisalign.

Anderson, who has an Outperform rating and $600 per share target on Align (ALGN), argues that Google trends data for Invisalign is âbroadly more encouraging than where we were a few weeks ago.â
Its outperformance comes at a time the healthcare lags many other sectors in the broader market, trading only above Utilities and Energy.
Meanwhile, Align's (ALGN) rival in clear aligners, SmileDirectClub (SDC
-1.3%) is trading lower. However, both stocks have underperformed the broader market over the past 12 months, with losses of SmileDirectClub (SDC) exceeding ~75%, as shown in this graph.

While Align (ALGN) lost nearly 29% in the year so far, the Bullish ratings on the stock have risen over the past three months.

Three Seeking Alpha authors covered Align (ALGN) in February with two Hold ratings and one Buy rating.