Cellebrite DI’s (CLBT) Buy Rating Reiterated at Needham & Company LLC

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

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

Cellebrite DI Price Performance

Cellebrite DI stock opened at $19.46 on Thursday. Cellebrite DI has a fifty-two week low of $10.25 and a fifty-two week high of $26.30. The firm has a fifty day moving average price of $20.85 and a two-hundred day moving average price of $19.89. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -14.00, a P/E/G ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results 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 positive return on equity of 58.70% and a negative net margin of 70.54%. As a group, sell-side analysts expect that Cellebrite DI will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

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