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

Cellebrite DI (NASDAQ:CLBT) had its price objective hoisted by Needham & Company LLC from $21.00 to $28.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

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

Cellebrite DI Trading Up 3.2 %

CLBT stock opened at $23.87 on Wednesday. The firm has a market cap of $4.92 billion, a PE ratio of -15.40, a price-to-earnings-growth ratio of 3.36 and a beta of 1.46. The stock has a 50-day moving average price of $20.94 and a 200-day moving average price of $17.79. Cellebrite DI has a 1-year low of $8.73 and a 1-year high of $24.18.

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

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. acquired a new position in Cellebrite DI during the 4th quarter valued at about $466,000. Juncture Wealth Strategies LLC boosted its position in shares of Cellebrite DI by 0.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock valued at $1,322,000 after buying an additional 505 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Cellebrite DI by 30.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 66,487 shares of the company’s stock worth $1,465,000 after buying an additional 15,332 shares in the last quarter. SG Americas Securities LLC raised its position in 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 during the last quarter. Finally, Jackson Square Capital LLC bought a new position in Cellebrite DI during the 4th quarter valued at $1,596,000. 45.88% of the stock is owned by institutional investors.

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.