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

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

A number of other analysts also recently weighed in on CLBT. Lake Street Capital boosted their target price on Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $23.43.

Cellebrite DI Trading Up 2.3 %

Shares of CLBT opened at $17.62 on Monday. The company has a market cap of $3.63 billion, a PE ratio of -12.68, a price-to-earnings-growth ratio of 4.27 and a beta of 1.53. The stock has a 50-day moving average price of $21.58 and a 200-day moving average price of $19.70. Cellebrite DI has a 12-month low of $10.25 and a 12-month high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last released 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 58.70% and a negative net margin of 70.54%. As a group, analysts predict that Cellebrite DI will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several hedge funds have recently made changes to their positions in the business. Juncture Wealth Strategies LLC increased its stake in shares of Cellebrite DI by 0.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock valued at $1,322,000 after buying an additional 505 shares during the period. Bosun Asset Management LLC increased its stake in shares of Cellebrite DI by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 43,307 shares of the company’s stock valued at $954,000 after buying an additional 584 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Cellebrite DI by 1.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 47,497 shares of the company’s stock valued at $1,046,000 after buying an additional 859 shares during the period. Strategic Advisors LLC increased its stake in shares of Cellebrite DI by 3.4% during the fourth quarter. Strategic Advisors LLC now owns 29,082 shares of the company’s stock valued at $641,000 after buying an additional 950 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Cellebrite DI by 12.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,590 shares of the company’s stock valued at $299,000 after buying an additional 1,463 shares during the period. 45.88% of the stock is owned by hedge funds and other 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.