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

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 45.45% from the company’s previous close.

CLBT has been the topic of a number of other research reports. Lake Street Capital increased their price target on 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. lifted their price objective on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $23.43.

Cellebrite DI Stock Performance

NASDAQ:CLBT opened at $19.25 on Wednesday. The stock’s fifty day moving average is $20.71 and its 200 day moving average is $19.94. The firm has a market capitalization of $4.61 billion, a PE ratio of -13.85, a PEG ratio of 4.27 and a beta of 1.52. Cellebrite DI has a fifty-two week low of $10.25 and a fifty-two week high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts forecast that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently made changes to their positions in CLBT. Quarry LP purchased a new position in Cellebrite DI in the 3rd quarter worth $27,000. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI in the fourth quarter valued at approximately $85,000. NewEdge Advisors LLC boosted its position in Cellebrite DI by 600.7% in the fourth 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 last quarter. R Squared Ltd acquired a new position in Cellebrite DI in the 4th quarter worth approximately $100,000. Finally, Polen Capital Management LLC purchased a new position in Cellebrite DI during the 4th quarter worth approximately $222,000. 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.