Proto Labs (PRLB) shares plummeted 5.31% during pre-market trading on Monday, marking a significant decline at the start of the trading week.
The sharp drop follows a mixed set of analyst actions. While Benchmark raised its target price for the stock to $70, William Blair analyst Brian Drab maintained a Hold rating on the company, citing "uncertain CNC momentum" despite acknowledging record near-term growth. The market appears to be reacting more strongly to the concerns regarding the sustainability of the company's Computer Numerical Control (CNC) manufacturing segment's performance.