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Proto Labs (NYSE:PRLB - Get Rating) updated its third quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.36-$0.44 for the period. The company issued revenue guidance of $121.00 million-$129.00 million, compared to the consensus revenue estimate of $133.27 million. Analysts Set New Price Targets
Separately, Craig Hallum decreased their target price on shares of Proto Labs from $56.00 to $50.00 in a research note on Monday, May 9th.Proto Labs Stock Down 9.8 %
Shares of NYSE PRLB opened at $46.90 on Monday. Proto Labs has a twelve month low of $39.36 and a twelve month high of $82.98. The business has a fifty day simple moving average of $47.81 and a two-hundred day simple moving average of $49.11. The firm has a market cap of $1.29 billion, a PE ratio of 53.30 and a beta of 1.28.
Proto Labs (NYSE:PRLB - Get Rating) last announced its earnings results on Friday, May 6th. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. Proto Labs had a return on equity of 2.95% and a net margin of 4.88%. The firm had revenue of $124.20 million for the quarter, compared to the consensus estimate of $122.03 million. During the same period in the previous year, the business earned $0.13 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that Proto Labs will post 0.63 earnings per share for the current year. Hedge Funds Weigh In On Proto Labs
A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its position in shares of Proto Labs by 63.4% in the first quarter. Federated Hermes Inc. now owns 461,748 shares of the industrial products company's stock valued at $24,426,000 after purchasing an additional 179,112 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Proto Labs by 5.1% in the first quarter. Vanguard Group Inc. now owns 2,848,640 shares of the industrial products company's stock valued at $150,693,000 after purchasing an additional 137,885 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Proto Labs by 34.2% in the first quarter. Dimensional Fund Advisors LP now owns 426,194 shares of the industrial products company's stock valued at $22,547,000 after purchasing an additional 108,638 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Proto Labs in the first quarter valued at approximately $3,940,000. Finally, State Street Corp grew its position in shares of Proto Labs by 3.7% in the first quarter. State Street Corp now owns 1,035,329 shares of the industrial products company's stock valued at $54,769,000 after purchasing an additional 37,314 shares in the last quarter. Institutional investors and hedge funds own 93.35% of the company's stock. About Proto Labs (Get Rating)
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.Featured ArticlesGet a free copy of the StockNews.com research report on Proto Labs (PRLB)Is DoorDash Ready To Sprint Higher? Electric Vehicles Can Drive Alcoa Stock HigherCan Airbnb Still Thrive in a Recession? What to Expect from the Markets in a Recession ConocoPhillips Shares Advance On Strong Q2 Revenue
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