Cellebrite DI’s (CLBT) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Cellebrite DI (NASDAQ:CLBT) in a research report released on Monday morning,Benzinga reports. They currently have a $28.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Lake Street Capital lifted their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.43.

Cellebrite DI Trading Down 4.5 %

Shares of CLBT opened at $16.78 on Monday. The stock has a 50 day simple moving average of $21.76 and a 200-day simple moving average of $19.71. The stock has a market cap of $3.46 billion, a PE ratio of -12.07, a PEG ratio of 4.27 and a beta of 1.52. Cellebrite DI has a 1 year low of $10.25 and a 1 year high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. On average, sell-side analysts forecast that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its holdings in shares of Cellebrite DI by 8.3% in the third quarter. Janney Montgomery Scott LLC now owns 51,155 shares of the company’s stock valued at $861,000 after purchasing an additional 3,912 shares in the last quarter. Principal Financial Group Inc. bought a new position in Cellebrite DI in the 3rd quarter valued at $23,402,000. Meritage Portfolio Management increased its stake in shares of Cellebrite DI by 12.0% in the 3rd quarter. Meritage Portfolio Management now owns 27,831 shares of the company’s stock valued at $469,000 after buying an additional 2,973 shares during the period. Venturi Wealth Management LLC raised its position in shares of Cellebrite DI by 28.6% during the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock worth $152,000 after acquiring an additional 2,000 shares during the last quarter. Finally, MQS Management LLC acquired a new position in shares of Cellebrite DI during the third quarter valued at $294,000. 45.88% of the stock is currently owned by institutional investors and hedge funds.

Cellebrite DI Company Profile

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.