Needham & Company LLC Reiterates Buy Rating for Cellebrite DI (NASDAQ:CLBT)

Needham & Company LLC restated their buy rating on shares of Cellebrite DI (NASDAQ:CLBT) in a report published on Wednesday,Benzinga reports. They currently have a $28.00 target price on the stock.

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

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT opened at $17.71 on Wednesday. Cellebrite DI has a 1 year low of $10.25 and a 1 year high of $26.30. The stock’s 50-day simple moving average is $20.41 and its 200-day simple moving average is $19.94. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -12.74, a PEG ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data 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 positive return on equity of 58.70% and a negative net margin of 70.54%. As a group, research analysts predict that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Trading of Cellebrite DI

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of Cellebrite DI by 19.3% during the fourth quarter. California State Teachers Retirement System now owns 71,385 shares of the company’s stock valued at $1,573,000 after purchasing an additional 11,555 shares during the period. Mackenzie Financial Corp bought a new stake in Cellebrite DI during the fourth quarter worth approximately $776,000. Public Employees Retirement System of Ohio lifted its position in Cellebrite DI by 3.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 301,763 shares of the company’s stock worth $6,648,000 after purchasing an additional 8,648 shares during the period. Castleark Management LLC bought a new position in Cellebrite DI during the 4th quarter valued at $1,284,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cellebrite DI by 32.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,132 shares of the company’s stock valued at $3,263,000 after purchasing an additional 36,341 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.