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

Cellebrite DI (NASDAQ:CLBT) had its price objective raised by investment analysts at Needham & Company LLC from $17.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 10.01% from the stock’s current price.

Several other research firms have also commented on CLBT. JPMorgan Chase & Co. boosted their price objective on Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 16th. Lake Street Capital increased their target price on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. TD Cowen raised their price objective 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, Craig Hallum boosted their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $19.14.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $19.09 on Thursday. The company has a market cap of $3.93 billion, a P/E ratio of -36.02, a PEG ratio of 2.55 and a beta of 1.50. Cellebrite DI has a 1-year low of $7.15 and a 1-year high of $21.00. The stock’s 50-day moving average is $17.55 and its 200 day moving average is $14.20.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The company had revenue of $95.70 million during the quarter, compared to analyst estimates of $91.94 million. During the same quarter last year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts anticipate that Cellebrite DI will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in shares of Cellebrite DI in the 3rd quarter valued at about $23,402,000. Pembroke Management LTD increased its position in Cellebrite DI by 104.9% during the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock worth $18,352,000 after purchasing an additional 786,310 shares during the period. Acadian Asset Management LLC raised its stake in shares of Cellebrite DI by 26.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock worth $32,062,000 after buying an additional 612,787 shares in the last quarter. Meitav Investment House Ltd. lifted its holdings in shares of Cellebrite DI by 29.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after buying an additional 473,293 shares during the period. Finally, Ashford Capital Management Inc. boosted its stake in shares of Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after buying an additional 350,140 shares in the last quarter. Hedge funds and other 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.