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

Needham & Company LLC reissued their buy rating on shares of Cellebrite DI (NASDAQ:CLBT) in a research report sent to investors on Friday,Benzinga reports. They currently have a $28.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Craig Hallum increased their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cellebrite DI has a consensus rating of “Buy” and an average price target of $23.43.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT opened at $20.50 on Friday. The firm has a 50 day moving average of $22.58 and a 200 day moving average of $19.10. Cellebrite DI has a 12-month low of $9.96 and a 12-month high of $26.30.

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 the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. Analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors have recently bought and sold shares of the stock. True Wind Capital Management L.P. grew its stake in Cellebrite DI by 18.2% during the fourth quarter. True Wind Capital Management L.P. now owns 13,861,007 shares of the company’s stock valued at $305,358,000 after acquiring an additional 2,130,386 shares in the last quarter. FMR LLC lifted its position in Cellebrite DI by 89.1% during the fourth quarter. FMR LLC now owns 10,621,344 shares of the company’s stock valued at $233,988,000 after purchasing an additional 5,004,587 shares during the last quarter. Axon Enterprise Inc. bought a new position in Cellebrite DI during the fourth quarter valued at $198,270,000. Voss Capital LP lifted its position in Cellebrite DI by 1.2% during the fourth quarter. Voss Capital LP now owns 3,240,000 shares of the company’s stock valued at $71,377,000 after purchasing an additional 39,700 shares during the last quarter. Finally, Pertento Partners LLP lifted its position in Cellebrite DI by 26.7% during the fourth quarter. Pertento Partners LLP now owns 2,975,374 shares of the company’s stock valued at $65,547,000 after purchasing an additional 626,373 shares during the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.