Cellebrite DI (NASDAQ:CLBT) Given “Buy” Rating at Needham & Company LLC

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

A number of other research firms also recently commented on CLBT. JPMorgan Chase & Co. raised their price objective on 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 lifted their price target on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $23.43.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $19.61 on Thursday. Cellebrite DI has a 1-year low of $10.25 and a 1-year high of $26.30. The firm’s 50-day simple moving average is $20.92 and its 200-day simple moving average is $19.85. The firm has a market cap of $4.70 billion, a P/E ratio of -14.11, a PEG ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly 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 negative net margin of 70.54% and a positive return on equity of 58.70%. Analysts expect that Cellebrite DI will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of Cellebrite DI

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Cellebrite DI by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock valued at $7,202,000 after purchasing an additional 75,092 shares in the last quarter. Two Sigma Advisers LP boosted its position in Cellebrite DI by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock valued at $22,584,000 after buying an additional 120,000 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Cellebrite DI by 65.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock valued at $3,473,000 after buying an additional 62,320 shares during the last quarter. State Street Corp grew its stake in shares of Cellebrite DI by 7.3% during the third quarter. State Street Corp now owns 443,700 shares of the company’s stock valued at $7,472,000 after acquiring an additional 30,052 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Cellebrite DI by 2.6% during the fourth quarter. New York State Common Retirement Fund now owns 189,599 shares of the company’s stock worth $4,177,000 after acquiring an additional 4,838 shares during the last quarter. Hedge funds and other 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.