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

Needham & Company LLC reiterated their buy rating on shares of Cellebrite DI (NASDAQ:CLBT) in a report published on Thursday,Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. Lake Street Capital raised their price objective on Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $23.43.

Cellebrite DI Stock Performance

CLBT opened at $19.61 on Thursday. The company has a market capitalization of $4.70 billion, a P/E ratio of -14.11, a PEG ratio of 4.27 and a beta of 1.52. The company has a 50-day moving average of $20.92 and a 200-day moving average of $19.85. Cellebrite DI has a 1-year low of $10.25 and a 1-year high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Cellebrite DI will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of Cellebrite DI

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Cellebrite DI by 130.5% during the 3rd 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 during the period. FMR LLC boosted its position in shares of Cellebrite DI by 136.3% during the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after buying an additional 3,239,307 shares during the period. Quantbot Technologies LP grew its holdings in Cellebrite DI by 77.0% in the 3rd quarter. Quantbot Technologies LP now owns 114,318 shares of the company’s stock worth $1,925,000 after buying an additional 49,742 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cellebrite DI in the 3rd quarter valued at approximately $478,000. Finally, Tybourne Capital Management HK Ltd. bought a new stake in Cellebrite DI during the 3rd quarter valued at $1,947,000. Institutional investors and hedge funds 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.