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Proto Labs (NYSE:PRLB - Get Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided 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. Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRLB. Craig Hallum lowered their price objective on Proto Labs to $42.00 in a research report on Monday, August 15th. StockNews.com raised shares of Proto Labs from a hold rating to a buy rating in a research note on Monday, August 8th.Proto Labs Price Performance

Proto Labs stock opened at $39.77 on Monday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 45.19 and a beta of 1.28. The stock has a fifty day moving average price of $46.78 and a two-hundred day moving average price of $48.47. Proto Labs has a 52-week low of $39.36 and a 52-week high of $79.27.

Proto Labs (NYSE:PRLB - Get Rating) last announced its quarterly earnings results on Friday, August 5th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $126.90 million during the quarter, compared to the consensus estimate of $127.28 million. Proto Labs had a net margin of 4.88% and a return on equity of 2.95%. The firm's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. On average, equities research analysts predict that Proto Labs will post 0.79 EPS for the current fiscal year. Institutional Investors Weigh In On Proto Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Proto Labs by 5.1% during the first quarter. Vanguard Group Inc. now owns 2,848,640 shares of the industrial products company's stock worth $150,693,000 after purchasing an additional 137,885 shares during the last quarter. State Street Corp increased its position in Proto Labs by 8.2% in the 2nd quarter. State Street Corp now owns 1,120,464 shares of the industrial products company's stock valued at $53,603,000 after acquiring an additional 85,135 shares in the last quarter. Federated Hermes Inc. increased its position in Proto Labs by 63.4% in the 1st quarter. Federated Hermes Inc. now owns 461,748 shares of the industrial products company's stock valued at $24,426,000 after acquiring an additional 179,112 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Proto Labs by 34.2% during the first quarter. Dimensional Fund Advisors LP now owns 426,194 shares of the industrial products company's stock worth $22,547,000 after purchasing an additional 108,638 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Proto Labs by 8.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 260,507 shares of the industrial products company's stock valued at $13,781,000 after purchasing an additional 21,157 shares during the last quarter. 93.35% of the stock is owned by institutional investors and hedge funds. Proto Labs Company Profile (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.Recommended StoriesGet a free copy of the StockNews.com research report on Proto Labs (PRLB)Why Trading Volume is Unusually High on These 3 StocksCan NetApp Resume Its Rally After Strong Earnings Guidance? Three Reasons Why Medtronic Stock can be a Recession Winner Rivian Rising to the Challenge3 Deflation Enablers Stocks that Can Thrive in a Recession

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