Needham & Company LLC Boosts Cellebrite DI (NASDAQ:CLBT) Price Target to $14.00

Cellebrite DI (NASDAQ:CLBT) had its price objective raised by Needham & Company LLC from $13.50 to $14.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Craig Hallum raised their price objective on Cellebrite DI from $14.00 to $16.00 and gave the stock a buy rating in a research note on Monday, April 1st. William Blair upgraded Cellebrite DI from a market perform rating to an outperform rating in a research report on Wednesday, March 13th. Lake Street Capital began coverage on shares of Cellebrite DI in a research note on Friday, April 19th. They set a buy rating and a $13.00 price objective for the company. Finally, Bank of America lifted their target price on shares of Cellebrite DI from $12.00 to $13.00 and gave the stock a buy rating in a research report on Monday, April 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cellebrite DI presently has an average rating of Buy and a consensus target price of $13.17.

Cellebrite DI Trading Down 6.6 %

Shares of Cellebrite DI stock opened at $11.10 on Friday. Cellebrite DI has a 52 week low of $5.45 and a 52 week high of $12.50. The stock has a market cap of $2.29 billion, a PE ratio of -19.14, a price-to-earnings-growth ratio of 1.93 and a beta of 1.51. The company’s 50-day moving average price is $11.11 and its two-hundred day moving average price is $9.93.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, May 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.34 million. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 220.14%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. On average, equities analysts predict that Cellebrite DI will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors have recently modified their holdings of CLBT. IGP Investments G.P.L.P LP purchased a new stake in shares of Cellebrite DI during the fourth quarter worth $182,619,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Cellebrite DI by 7.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock worth $56,446,000 after purchasing an additional 514,858 shares in the last quarter. Crosslink Capital Inc. lifted its holdings in shares of Cellebrite DI by 1.4% during the 4th quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock valued at $28,063,000 after buying an additional 44,520 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Cellebrite DI by 26.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after buying an additional 612,787 shares in the last quarter. Finally, Ashford Capital Management Inc. increased its holdings in Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock worth $20,401,000 after buying an additional 350,140 shares during the last quarter. Institutional investors and hedge funds 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.