Fintel reports that on August 4, 2023, Craig-Hallum upgraded their outlook for Proto Labs (NYSE:PRLB) from Sell to Hold .
Analyst Price Forecast Suggests 29.14% Upside
As of August 2, 2023, the average one-year price target for Proto Labs is 41.06. The forecasts range from a low of 26.26 to a high of $51.45. The average price target represents an increase of 29.14% from its latest reported closing price of 31.79.
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The projected annual revenue for Proto Labs is 482MM, a decrease of 1.65%. The projected annual non-GAAP EPS is 1.14.
What is the Fund Sentiment?
There are 469 funds or institutions reporting positions in Proto Labs. This is a decrease of 7 owner(s) or 1.47% in the last quarter. Average portfolio weight of all funds dedicated to PRLB is 0.10%, a decrease of 35.61%. Total shares owned by institutions increased in the last three months by 0.73% to 25,154K shares. 
The put/call ratio of PRLB is 0.25, indicating a bullish outlook.
What are Other Shareholders Doing?
Disciplined Growth Investors holds 1,996K shares representing 7.62% ownership of the company. In it's prior filing, the firm reported owning 2,122K shares, representing a decrease of 6.30%. The firm increased its portfolio allocation in PRLB by 22.37% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,978K shares representing 7.55% ownership of the company. In it's prior filing, the firm reported owning 2,010K shares, representing a decrease of 1.62%. The firm increased its portfolio allocation in PRLB by 24.15% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 821K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 822K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in PRLB by 19.77% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 696K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 699K shares, representing a decrease of 0.34%. The firm increased its portfolio allocation in PRLB by 24.21% over the last quarter.
Brown Capital Management holds 682K shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 731K shares, representing a decrease of 7.09%. The firm increased its portfolio allocation in PRLB by 9.56% over the last quarter.
Proto Labs Background Information
(This description is provided by the company.)
Protolabs is the world's leading source for digital manufacturing services. The technology-enabled company produces custom components in as fast as 1 day with automated 3D printing, CNC machining, sheet metal fabrication, and injection molding processes. Its digital approach to manufacturing enables accelerated time to market, reduces manufacturing costs, and enables supply chain agility throughout the product life cycle.
Additional reading:
- Protolabs Reports Financial Results for the Second Quarter of 2023 Revenue of $122.3 million in the Second Quarter of 2023 Network revenue of $20.2 million; a 79.3% YoY increase GAAP Loss Per Share of $0.01; Non-GAAP Earnings Per Share of $0.33
- Proto Labs, Inc. 2022 Long-Term Incentive Plan (As amended on May 17, 2023)
- Protolabs Reports Financial Results for the First Quarter of 2023 Revenue of $125.9 million in the First Quarter of 2023 GAAP Earnings Per Share of $0.10, Non-GAAP Earnings Per Share of $0.30
- Subsidiaries of Proto Labs, Inc.
- Powers of Attorney
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
