Needham & Company LLC Issues Positive Forecast for Cellebrite DI (NASDAQ:CLBT) Stock Price

Cellebrite DI (NASDAQ:CLBT) had its price objective raised by research analysts at Needham & Company LLC from $21.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 21.00% from the stock’s current price.

A number of other equities analysts have also recently weighed in on CLBT. JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Craig Hallum lifted their target price on Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $21.57.

Cellebrite DI Stock Up 1.6 %

NASDAQ:CLBT opened at $23.14 on Wednesday. The stock’s fifty day simple moving average is $20.85 and its 200-day simple moving average is $17.71. The firm has a market capitalization of $4.77 billion, a P/E ratio of -14.93, a P/E/G ratio of 3.36 and a beta of 1.46. Cellebrite DI has a 12-month low of $8.53 and a 12-month high of $23.50.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The company had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $102.06 million. During the same period in the prior year, the business posted $0.09 EPS. Cellebrite DI’s revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts expect that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Trading of Cellebrite DI

Several hedge funds and other institutional investors have recently modified their holdings of CLBT. FMR LLC grew its holdings 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 in the last quarter. Meitav Investment House Ltd. boosted its position in Cellebrite DI by 29.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after acquiring an additional 473,293 shares during the last quarter. Pembroke Management LTD grew its stake in shares of Cellebrite DI by 24.3% during the 3rd quarter. Pembroke Management LTD now owns 1,908,345 shares of the company’s stock worth $32,137,000 after acquiring an additional 372,619 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Cellebrite DI in the third quarter valued at approximately $23,402,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Cellebrite DI by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock valued at $22,584,000 after purchasing an additional 120,000 shares during the last quarter. 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.