Needham Sticks to Their Hold Rating for Proto Labs (PRLB)

In a report released today, James Ricchiuti from Needham maintained a Hold rating on Proto Labs (PRLBResearch Report). The company’s shares closed last Thursday at $118.82.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 15.5% and a 63.3% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.

Proto Labs has an analyst consensus of Moderate Buy, with a price target consensus of $165.00, which is a 40.2% upside from current levels. In a report issued on October 20, Northcoast Research also maintained a Hold rating on the stock.

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Proto Labs’ market cap is currently $3.67B and has a P/E ratio of 57.70. The company has a Price to Book ratio of 7.32.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PRLB in relation to earlier this year. Most recently, in August 2020, Sven Wehrwein, a Director at PRLB sold 4,762 shares for a total of $620,022.

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Proto Labs, Inc. engages in the digital manufacture of custom prototypes and production parts. It offers 3D printing, CNC machining, and injection molding services. The company was founded by Lawrence J. Lukis and Gregg Bloom on May 5, 1999 and is headquartered in Maple Plain, MN.