Cellebrite DI (NASDAQ:CLBT) Earns Buy Rating from Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $28.00 price objective on the stock. Needham & Company LLC's price objective points to a potential upside of 62.04% from the company's previous close.

Several other brokerages have also commented on CLBT. JPMorgan Chase & Co. lifted their price objective on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an "overweight" rating in a research 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 stock a "buy" rating in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.43.

Cellebrite DI Price Performance

Shares of NASDAQ CLBT traded down $0.34 during midday trading on Monday, reaching $17.28. The company's stock had a trading volume of 976,649 shares, compared to its average volume of 1,120,083. The stock has a market capitalization of $3.56 billion, a P/E ratio of -12.43, a PEG ratio of 4.27 and a beta of 1.53. The firm 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.

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Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) 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%. On average, equities analysts predict that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Trading of Cellebrite DI

Several hedge funds and other institutional investors have recently modified their holdings of CLBT. Janney Montgomery Scott LLC grew its stake in Cellebrite DI by 8.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,155 shares of the company's stock valued at $861,000 after buying an additional 3,912 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Cellebrite DI in the third quarter worth $23,402,000. Meritage Portfolio Management boosted its holdings in shares of Cellebrite DI by 12.0% in the third quarter. Meritage Portfolio Management now owns 27,831 shares of the company's stock worth $469,000 after acquiring an additional 2,973 shares during the period. Venturi Wealth Management LLC grew its position in shares of Cellebrite DI by 28.6% in the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company's stock valued at $152,000 after purchasing an additional 2,000 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Cellebrite DI during the 3rd quarter valued at $294,000. 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.