Cellebrite DI (NASDAQ:CLBT) Stock Rating Reaffirmed by Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 24.22% from the company’s current price.

A number of other analysts have also commented on the company. Craig Hallum initiated coverage on Cellebrite DI in a report on Wednesday, July 19th. They issued a “buy” rating and a $11.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Cellebrite DI from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Cellebrite DI from $6.50 to $9.00 in a report on Wednesday, August 9th. Bank of America upped their price objective on Cellebrite DI from $6.15 to $6.75 in a research report on Friday, June 16th. Finally, TheStreet raised Cellebrite DI from a “d+” rating to a “c” rating in a research report on Thursday, July 13th.

Cellebrite DI Trading Up 1.6 %

Shares of NASDAQ:CLBT opened at $8.05 on Wednesday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -38.33, a PEG ratio of 0.90 and a beta of 1.32. The stock has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $6.33. Cellebrite DI has a 12-month low of $3.80 and a 12-month high of $8.15.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Tuesday, August 8th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $76.70 million during the quarter, compared to analyst estimates of $72.52 million. Cellebrite DI had a positive return on equity of 60.26% and a negative net margin of 13.89%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.00 EPS. As a group, equities research analysts predict that Cellebrite DI will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds have recently modified their holdings of the business. Swiss National Bank lifted its position in Cellebrite DI by 7.6% during the first quarter. Swiss National Bank now owns 89,000 shares of the company’s stock valued at $570,000 after purchasing an additional 6,300 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cellebrite DI by 159.3% during the 1st quarter. JPMorgan Chase & Co. now owns 49,499 shares of the company’s stock valued at $317,000 after acquiring an additional 30,410 shares during the period. Blair William & Co. IL increased its holdings in Cellebrite DI by 3,021.1% in the 1st quarter. Blair William & Co. IL now owns 523,978 shares of the company’s stock worth $3,353,000 after acquiring an additional 507,190 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Cellebrite DI during the 1st quarter worth approximately $127,000. Finally, State Street Corp lifted its holdings in Cellebrite DI by 20.3% during the first quarter. State Street Corp now owns 155,440 shares of the company’s stock valued at $995,000 after purchasing an additional 26,240 shares in the last quarter. Institutional investors own 21.80% 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 United States, and the Asia-Pacific. Its DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation.