Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $21.00 at Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT) had its price objective hoisted by Needham & Company LLC from $17.00 to $21.00 in a research report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Bank of America upped their price objective on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Craig Hallum lifted their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. TD Cowen increased their target price on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Lake Street Capital boosted their price target on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI has a consensus rating of “Buy” and an average target price of $20.29.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded down $0.18 during trading hours on Thursday, hitting $18.61. The company’s stock had a trading volume of 847,646 shares, compared to its average volume of 1,145,753. Cellebrite DI has a twelve month low of $7.22 and a twelve month high of $21.00. The firm has a fifty day moving average of $17.59 and a 200-day moving average of $14.23.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, August 15th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a negative net margin of 82.28% and a negative return on equity of 748.06%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Equities analysts forecast that Cellebrite DI will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Cellebrite DI by 59.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after acquiring an additional 1,017 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Cellebrite DI during the second quarter worth $71,000. Pathway Financial Advisers LLC lifted its position in shares of Cellebrite DI by 1,583.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after buying an additional 4,118 shares during the last quarter. nVerses Capital LLC acquired a new stake in Cellebrite DI during the second quarter worth about $103,000. Finally, TD Asset Management Inc bought a new position in shares of Cellebrite DI in the second quarter valued at $121,000. 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.