Proto Labs (NYSE:PRLB) Stock Rating Upgraded by Needham & Company LLC

Key Points

• Needham upgraded Proto Labs from “hold” to “buy” and set an $87 price target, implying 16.76% upside from the reported $74.51 share price.
• Analyst sentiment is broadly positive: Proto Labs has three “buy” ratings and one “hold,” producing a “Moderate Buy” consensus rating with an average price target of $89.
• The company exceeded quarterly expectations, reporting $0.60 EPS versus $0.53 expected and $149.34 million in revenue versus $144.53 million forecast; revenue increased 10.5% year over year.

Proto Labs (NYSE:PRLB - Get Free Report) was upgraded by investment analysts at Needham & Company LLC from a "hold" rating to a "buy" rating in a research note issued to investors on Monday,Benzinga reports. The firm presently has a $87.00 price objective on the industrial products company's stock. Needham & Company LLC's price target would indicate a potential upside of 16.76% from the company's current price.

PRLB has been the topic of several other research reports. Weiss Ratings raised Proto Labs from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Benchmark lifted their target price on Proto Labs from $70.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Wall Street Zen downgraded shares of Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Zacks Research lowered shares of Proto Labs from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.00.

Proto Labs Price Performance

Shares of PRLB stock opened at $74.51 on Monday. The firm has a 50-day moving average of $77.00 and a 200-day moving average of $66.78. Proto Labs has a one year low of $40.84 and a one year high of $83.15. The company has a market cap of $1.77 billion, a P/E ratio of 59.61 and a beta of 1.40.

Proto Labs (NYSE:PRLB - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.07. The business had revenue of $149.34 million during the quarter, compared to the consensus estimate of $144.53 million. Proto Labs had a net margin of 5.44% and a return on equity of 4.80%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. Proto Labs has set its Q3 2026 guidance at 0.560-0.640 EPS. As a group, research analysts expect that Proto Labs will post 1.37 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michael R. Kenison sold 16,030 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $69.49, for a total transaction of $1,113,924.70. Following the sale, the insider directly owned 18,683 shares in the company, valued at approximately $1,298,281.67. The trade was a 46.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sven Wehrwein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $77.28, for a total transaction of $154,560.00. Following the completion of the sale, the director owned 32,505 shares in the company, valued at $2,511,986.40. This represents a 5.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 25,663 shares of company stock valued at $1,804,727 in the last quarter. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of Proto Labs

A number of institutional investors have recently made changes to their positions in PRLB. Royal Bank of Canada raised its holdings in shares of Proto Labs by 51.3% during the first quarter. Royal Bank of Canada now owns 6,510 shares of the industrial products company's stock valued at $228,000 after acquiring an additional 2,207 shares in the last quarter. AQR Capital Management LLC boosted its stake in Proto Labs by 3.3% during the first quarter. AQR Capital Management LLC now owns 63,871 shares of the industrial products company's stock worth $2,238,000 after acquiring an additional 2,040 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Proto Labs by 7,380.0% in the 1st quarter. NewEdge Advisors LLC now owns 748 shares of the industrial products company's stock worth $26,000 after purchasing an additional 738 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Proto Labs by 68.8% during the second quarter. JPMorgan Chase & Co. now owns 21,756 shares of the industrial products company's stock valued at $871,000 after buying an additional 8,864 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Proto Labs during the second quarter valued at $480,000. Hedge funds and other institutional investors own 84.54% of the company's stock.

About Proto Labs

Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.

Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.

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