Needham & Company LLC Reaffirms Buy Rating for Cellebrite DI (NASDAQ:CLBT)

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

Other analysts also recently issued research reports about the company. Craig Hallum upped their price target on 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. upped their price target on Cellebrite DI from $24.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $23.43.

Cellebrite DI Trading Down 1.0 %

NASDAQ CLBT traded down $0.21 on Friday, reaching $20.29. The stock had a trading volume of 3,087,426 shares, compared to its average volume of 1,928,881. The business has a 50 day moving average price of $22.58 and a 200 day moving average price of $19.28. Cellebrite DI has a 1 year low of $10.24 and a 1 year high of $26.30. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -13.09, a P/E/G ratio of 3.72 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last released its quarterly 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 positive return on equity of 122.59% and a negative net margin of 82.28%. On average, analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of large investors have recently bought and sold shares of the business. Castleark Management LLC bought a new stake in Cellebrite DI during the 4th quarter worth approximately $1,284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cellebrite DI by 32.5% during the 4th 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 acquiring an additional 36,341 shares during the last quarter. USS Investment Management Ltd bought a new position in Cellebrite DI in the 4th quarter valued at $706,000. Sphera Management Technology Funds Ltd bought a new position in Cellebrite DI in the 4th quarter valued at $881,000. Finally, Two Sigma Advisers LP boosted its position in Cellebrite DI by 35.0% in the 4th quarter. Two Sigma Advisers LP now owns 1,811,100 shares of the company's stock valued at $39,899,000 after buying an additional 470,000 shares during the last quarter. 45.88% of the stock is currently owned by 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.