Proto Labs

PRLB · NYSE

$87.73+$0.33 (+0.38%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $87.40

PRLB analyst rating

BuyConsensus of 2 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy2
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $97.41 (+11.0% upside)

Low: $87.87
Now: $87.73
High: $115.50

Upgrades and downgrades

The latest rating actions, newest first

PRLB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Aug 3, 2026	Upgrade	Hold → Buy	$87.00	59%
Benchmark	Jul 6, 2026	Maintains	Buy	$70.00 → $91.00	53%
Benchmark	Nov 3, 2025	Maintains	Buy	$45.00 → $55.00	53%

The case for and against

Updated Jan 19, 2026

Bull case

Proto Labs Inc demonstrated a robust financial performance with a 10% year-over-year increase in non-GAAP EPS, reaching $0.41, which surpassed both consensus and internal estimates. The company's revenue from the Proto Labs Network rose by 18.6% year-over-year to $29.3 million, while digital factory revenue increased by 4.8% year-over-year to $105.8 million, showcasing solid growth across its service offerings. Additionally, the significant 45% year-over-year growth in customers utilizing the combined factory and network offerings, along with an 11% uptick in revenue per customer, underscores the company's strengthening market position and operational efficiency.

Bear case

Proto Labs Inc. has experienced a slight decrease in gross margins, falling to 45.3% in 3Q25 from 45.6% the prior year, although this remains the highest quarterly figure of the year. Despite a projected revenue increase of 5% for the full year 2025, concerns about short-term margin pressures stemming from changing tariff and trade policies contribute to a negative outlook on the company's financial performance. Additionally, while management's guidance for 4Q25 estimates revenue of $130.2 million and non-GAAP earnings of $0.36 per share aligns with the upper range of expectations, the broader economic context raises caution regarding profitability and sustained growth.

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