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

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $28.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 59.36% from the company’s current price.

A number of other analysts also recently commented on CLBT. Lake Street Capital increased 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. JPMorgan Chase & Co. upped their price target on Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.43.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT opened at $17.57 on Monday. Cellebrite DI has a 1 year low of $10.25 and a 1 year high of $26.30. The firm has a market cap of $3.62 billion, a P/E ratio of -12.64, a PEG ratio of 4.27 and a beta of 1.52. The stock has a fifty day moving average price of $21.87 and a two-hundred day moving average price of $19.71.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. Quarry LP purchased a new position in Cellebrite DI during the 3rd quarter valued at about $27,000. Advisors Asset Management Inc. grew its position in Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after purchasing an additional 1,742 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in Cellebrite DI during the fourth quarter valued at approximately $85,000. NewEdge Advisors LLC increased its stake in Cellebrite DI by 600.7% in the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after buying an additional 3,352 shares during the period. Finally, R Squared Ltd purchased a new stake in Cellebrite DI in the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.