Needham & Company LLC Reiterates “Buy” Rating for Cellebrite DI (NASDAQ:CLBT)

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $28.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 43.88% from the stock’s previous close.

A number of other research firms also recently issued reports on CLBT. Lake Street Capital increased their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $23.43.

Cellebrite DI Stock Down 0.8 %

Shares of NASDAQ:CLBT opened at $19.46 on Thursday. The company has a market cap of $4.66 billion, a P/E ratio of -14.00, a price-to-earnings-growth ratio of 4.27 and a beta of 1.52. The company’s fifty day moving average is $20.85 and its two-hundred day moving average is $19.87. Cellebrite DI has a 12-month low of $10.25 and a 12-month high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last announced 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%. Equities research analysts anticipate that Cellebrite DI will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of large investors have recently bought and sold shares of CLBT. Juncture Wealth Strategies LLC raised its holdings in Cellebrite DI by 0.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock valued at $1,322,000 after buying an additional 505 shares in the last quarter. Bosun Asset Management LLC increased its holdings in shares of Cellebrite DI by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 43,307 shares of the company’s stock valued at $954,000 after acquiring an additional 584 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Cellebrite DI by 1.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 47,497 shares of the company’s stock valued at $1,046,000 after acquiring an additional 859 shares in the last quarter. Strategic Advisors LLC lifted its holdings in Cellebrite DI by 3.4% in the 4th quarter. Strategic Advisors LLC now owns 29,082 shares of the company’s stock worth $641,000 after purchasing an additional 950 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Cellebrite DI by 12.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,590 shares of the company’s stock worth $299,000 after purchasing an additional 1,463 shares during the period. 45.88% of the stock is currently owned by institutional investors.

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.