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

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $28.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 29.03% from the stock’s previous close.

Several other analysts have also issued reports on CLBT. JPMorgan Chase & Co. upped their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday. Craig Hallum boosted their target price 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cellebrite DI presently has a consensus rating of “Buy” and an average price target of $22.14.

Cellebrite DI Trading Down 12.9 %

CLBT stock opened at $21.70 on Friday. The firm has a market cap of $4.47 billion, a PE ratio of -14.00, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47. The stock has a 50-day moving average price of $22.57 and a 200-day moving average price of $19.09. Cellebrite DI has a 1-year low of $9.22 and a 1-year high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. On average, analysts forecast that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLBT. Quarry LP bought a new stake in Cellebrite DI during the third quarter valued at $27,000. Advisors Asset Management Inc. increased its stake in Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after acquiring an additional 1,742 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Cellebrite DI by 600.7% in the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after acquiring an additional 3,352 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after acquiring an additional 4,118 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Cellebrite DI during the fourth quarter worth about $100,000. 45.88% of the stock is owned by institutional investors.

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.