Cellebrite DI (NASDAQ:CLBT) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Cellebrite DI (NASDAQ:CLBT) had its target price increased by Needham & Company LLC from $21.00 to $28.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. Craig Hallum raised their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.57.

Cellebrite DI Price Performance

NASDAQ CLBT opened at $23.70 on Wednesday. The business’s 50-day moving average is $21.29 and its 200 day moving average is $17.95. The stock has a market capitalization of $4.88 billion, a PE ratio of -15.29, a PEG ratio of 3.52 and a beta of 1.46. Cellebrite DI has a 1 year low of $8.73 and a 1 year high of $24.18.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The firm had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $102.06 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Cellebrite DI by 136.3% during the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after purchasing an additional 3,239,307 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Cellebrite DI during the third quarter valued at $23,402,000. Lord Abbett & CO. LLC bought a new stake in Cellebrite DI in the third quarter worth $11,523,000. Summit Partners Public Asset Management LLC purchased a new position in shares of Cellebrite DI in the 3rd quarter worth about $9,274,000. Finally, Meitav Investment House Ltd. boosted its stake in Cellebrite DI by 29.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after purchasing an additional 473,293 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.