Needham & Company LLC Issues Positive Forecast for Cellebrite DI (NASDAQ:CLBT) Stock Price

Cellebrite DI (NASDAQ:CLBT) had its price target boosted by investment analysts at Needham & Company LLC from $21.00 to $28.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 19.56% from the stock’s previous close.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. raised their price objective on 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 raised their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cellebrite DI has a consensus rating of “Buy” and an average target price of $21.57.

Cellebrite DI Trading Down 1.9 %

Shares of NASDAQ:CLBT opened at $23.42 on Wednesday. The stock has a market capitalization of $4.82 billion, a PE ratio of -15.11, a PEG ratio of 3.42 and a beta of 1.46. The firm has a 50 day moving average of $21.06 and a 200-day moving average of $17.83. Cellebrite DI has a 12 month low of $8.73 and a 12 month high of $24.18.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate 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 negative net margin of 82.28% and a positive return on equity of 122.59%. The company’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. On average, research analysts predict that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Juncture Wealth Strategies LLC grew its holdings in Cellebrite DI by 0.8% during the 4th quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock worth $1,322,000 after acquiring an additional 505 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after purchasing an additional 1,017 shares during the period. Tower View Wealth Management LLC grew its stake in shares of Cellebrite DI by 1.2% in the third quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock worth $2,200,000 after purchasing an additional 1,500 shares during the last quarter. Quarry LP bought a new position in Cellebrite DI during the 3rd quarter worth $27,000. Finally, Advisors Asset Management Inc. lifted its holdings in Cellebrite DI by 130.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after buying an additional 1,742 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

About Cellebrite DI

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.