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

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

Other research analysts have also recently issued research reports about the stock. Lake Street Capital raised their price target on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $23.43.

Cellebrite DI Trading Up 3.0 %

Shares of CLBT opened at $19.83 on Wednesday. Cellebrite DI has a 12 month low of $10.25 and a 12 month high of $26.30. The stock has a fifty day moving average price of $20.62 and a 200-day moving average price of $19.94. The firm has a market cap of $4.75 billion, a PE ratio of -14.27, a P/E/G ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.07 earnings per share 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 forecast that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in shares of Cellebrite DI by 19.3% in the fourth quarter. California State Teachers Retirement System now owns 71,385 shares of the company’s stock valued at $1,573,000 after buying an additional 11,555 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Cellebrite DI during the fourth quarter worth $776,000. Public Employees Retirement System of Ohio lifted its holdings in Cellebrite DI by 3.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 301,763 shares of the company’s stock valued at $6,648,000 after purchasing an additional 8,648 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at about $1,284,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cellebrite DI by 32.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,132 shares of the company’s stock worth $3,263,000 after purchasing an additional 36,341 shares in the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.