Proto Labs (PRLB) is trading at around $109, near its 52-week lows. The PE (FWD) is slightly above 35 times earnings.
Proto Labs is a cloud manufacturing business model
The company started as a manufacturer of custom plastic injection molded parts in small batches and reduced lead times for prototyping and short-run productions. Protomold, as it was, initially, called, became known for its low-volume and rush orders. The company later added CNC machining services. Finally, with the acquisition of FineLine prototyping, Proto Labs entered the 3D printing market.
We can synthesize the business