Cellebrite DI (NASDAQ:CLBT) Receives “Buy” Rating from Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $28.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 45.45% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Lake Street Capital lifted their price target on 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. increased their target price on Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $23.43.

Cellebrite DI Stock Down 0.9 %

Cellebrite DI stock opened at $19.25 on Wednesday. The business’s 50-day moving average price is $20.71 and its 200 day moving average price is $19.94. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -13.85, a price-to-earnings-growth ratio of 4.27 and a beta of 1.52. Cellebrite DI has a 52 week low of $10.25 and a 52 week high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) 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%. Equities analysts expect that Cellebrite DI will post 0.3 EPS for the current year.

Hedge Funds Weigh In On Cellebrite DI

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Cellebrite DI by 136.3% in the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after acquiring an additional 3,239,307 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cellebrite DI by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,791 shares of the company’s stock valued at $1,883,000 after purchasing an additional 11,730 shares in the last quarter. Verition Fund Management LLC boosted its stake in Cellebrite DI by 20.6% during the third quarter. Verition Fund Management LLC now owns 110,259 shares of the company’s stock worth $1,857,000 after buying an additional 18,859 shares during the last quarter. PDT Partners LLC purchased a new stake in Cellebrite DI in the 3rd quarter valued at $426,000. Finally, Portolan Capital Management LLC grew its holdings in Cellebrite DI by 19.9% in the 3rd quarter. Portolan Capital Management LLC now owns 1,224,020 shares of the company’s stock valued at $20,612,000 after buying an additional 203,068 shares in the last quarter. 45.88% of the stock is owned by hedge funds and other 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.