Cellebrite DI (NASDAQ:CLBT) Given New $28.00 Price Target at Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT) had its target price increased by equities researchers at Needham & Company LLC from $21.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 21.00% from the company’s previous close.

A number of other research analysts have also commented on CLBT. JPMorgan Chase & Co. upped their price target on shares of Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Craig Hallum upped their target price on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $21.57.

Cellebrite DI Stock Up 1.6 %

NASDAQ:CLBT opened at $23.14 on Wednesday. Cellebrite DI has a 12-month low of $8.53 and a 12-month high of $23.50. The stock’s 50 day moving average price is $20.85 and its two-hundred day moving average price is $17.71. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -14.93, a P/E/G ratio of 3.36 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 27.0% on a year-over-year basis. Equities research analysts expect that Cellebrite DI will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLBT. Juncture Wealth Strategies LLC increased its position in shares of Cellebrite DI by 0.8% in the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock worth $1,322,000 after purchasing an additional 505 shares during the period. Janney Montgomery Scott LLC increased its holdings in Cellebrite DI by 30.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 66,487 shares of the company’s stock valued at $1,465,000 after buying an additional 15,332 shares during the period. SG Americas Securities LLC raised its position in shares of Cellebrite DI by 2,244.2% in the 4th quarter. SG Americas Securities LLC now owns 209,529 shares of the company’s stock valued at $4,616,000 after buying an additional 200,591 shares in the last quarter. Jackson Square Capital LLC bought a new stake in shares of Cellebrite DI during the 4th quarter worth approximately $1,596,000. Finally, Harbor Capital Advisors Inc. increased its stake in Cellebrite DI by 65.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock valued at $3,473,000 after acquiring an additional 62,320 shares during the last quarter. 45.88% of the stock is 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.