Cellebrite DI (NASDAQ:CLBT) Earns Buy Rating from Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $28.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 36.59% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Craig Hallum boosted their price objective on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $23.43.

Cellebrite DI Price Performance

NASDAQ CLBT opened at $20.50 on Friday. The firm’s fifty day moving average price is $22.57 and its 200 day moving average price is $19.19. Cellebrite DI has a 12 month low of $9.96 and a 12 month high of $26.30. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -13.23, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last issued 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 122.59% and a negative net margin of 82.28%. As a group, sell-side analysts forecast that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

Large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Cellebrite DI in the 3rd quarter valued at $27,000. Advisors Asset Management Inc. lifted its stake in shares of Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after acquiring an additional 1,742 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Cellebrite DI by 1,583.8% in the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after acquiring an additional 4,118 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock worth $86,000 after acquiring an additional 3,352 shares during the period. Finally, R Squared Ltd purchased a new position in Cellebrite DI during the fourth quarter worth about $100,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

About Cellebrite DI

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.