Proto Labs (NYSE:PRLB) Issues Q3 2024 Earnings Guidance

Proto Labs (NYSE:PRLB) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.290-0.370 for the period, compared to the consensus EPS estimate of 0.410. The company issued revenue guidance of $117.0 million-$125.0 million, compared to the consensus revenue estimate of $129.6 million. Proto Labs also updated its Q3 guidance to $0.29-0.37 EPS.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an overweight rating and issued a $44.00 price target on shares of Proto Labs in a research note on Tuesday. Craig Hallum decreased their price target on shares of Proto Labs from $38.00 to $34.00 and set a hold rating on the stock in a research note on Monday, May 6th. Needham & Company LLC reaffirmed a hold rating on shares of Proto Labs in a research note on Monday, May 6th. Finally, Benchmark reaffirmed a buy rating and set a $45.00 target price on shares of Proto Labs in a research note on Wednesday, May 29th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Proto Labs has a consensus rating of Moderate Buy and a consensus price target of $41.25.

Proto Labs Stock Down 15.3 %

NYSE PRLB traded down $5.14 on Friday, hitting $28.39. 359,021 shares of the stock were exchanged, compared to its average volume of 163,607. Proto Labs has a fifty-two week low of $23.01 and a fifty-two week high of $41.87. The company has a market cap of $718.83 million, a PE ratio of 36.91 and a beta of 1.33. The company has a 50-day moving average price of $31.58 and a 200-day moving average price of $33.43.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The business had revenue of $127.89 million during the quarter, compared to the consensus estimate of $123.81 million. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. As a group, equities research analysts predict that Proto Labs will post 0.69 EPS for the current fiscal year.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.