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

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $28.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 29.03% from the stock’s current price.

A number of other brokerages have also recently commented on CLBT. JPMorgan Chase & Co. raised their price target on Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. Craig Hallum increased their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.14.

Cellebrite DI Stock Performance

NASDAQ:CLBT opened at $21.70 on Friday. The firm’s 50-day simple moving average is $22.57 and its 200 day simple moving average is $19.09. Cellebrite DI has a 52 week low of $9.22 and a 52 week high of $26.30. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -14.00, a P/E/G ratio of 3.72 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. Sell-side analysts anticipate that Cellebrite DI will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Cellebrite DI in the 3rd quarter valued at approximately $27,000. Advisors Asset Management Inc. grew its stake in shares of Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in 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 purchasing an additional 4,118 shares during the period. NewEdge Advisors LLC raised its position in Cellebrite DI by 600.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock worth $86,000 after purchasing an additional 3,352 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Cellebrite DI during the 4th quarter worth about $100,000. 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.