Jefferies Group reaffirmed their hold rating on shares of Proto Labs (NASDAQ: PRLB) in a research note released on Wednesday morning. They currently have a $50.00 price target on the stock, up from their previous price target of $40.00.
“Q4 $33.6M/$0.31 was higher than St $32.7M/$0.26 (JEF $33.4M/$0.27) on good revenues but even better GM (62.7% vs. St/JEF 60.0%) and lower sales & marketing expense ($4.5M vs. JEF $4.8M). Pros: large secular tailwind; industry-leading market position; intro of new hard metals. Cons: minimal visibility; home 3D manufacturing hype pushing the multiple higher. We raise our target to $50 and could get more constructive on a pullback.,” Jefferies Group’s analyst commented.
Proto Labs traded down 2.62% on Wednesday, hitting $47.20. Proto Labs has a 52-week low of $24.93 and a 52-week high of $53.91. The stock’s 50-day moving average is currently $41.22. The company has a market cap of $1.152 billion and a price-to-earnings ratio of 59.25.
Separately, analysts at Zacks downgraded shares of Proto Labs from an outperform rating to a neutral rating in a research note to investors on Wednesday, December 26th. They now have a $40.60 price target on the stock.
One equities research analyst has rated the stock with a buy rating, and three have assigned a hold rating to the company. Proto Labs presently has an average rating of hold and a consensus target price of $41.50.
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