Needham & Company LLC Cuts Cellebrite DI (NASDAQ:CLBT) Price Target to $24.00

Cellebrite DI (NASDAQ:CLBT) had its target price cut by Needham & Company LLC from $28.00 to $24.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Lake Street Capital boosted their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of Cellebrite DI from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.43.

Cellebrite DI Stock Up 0.8%

Shares of CLBT opened at $17.41 on Wednesday. The business’s 50 day moving average price is $19.02 and its 200-day moving average price is $20.23. Cellebrite DI has a 52 week low of $10.25 and a 52 week high of $26.30. The stock has a market cap of $4.17 billion, a P/E ratio of -12.53, a P/E/G ratio of 4.27 and a beta of 1.44.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. On average, equities analysts anticipate that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds have recently added to or reduced their stakes in CLBT. Assetmark Inc. purchased a new stake in Cellebrite DI during the 1st quarter valued at $33,000. Catalyst Capital Advisors LLC purchased a new stake in Cellebrite DI during the 1st quarter valued at $51,000. Virtus Advisers LLC purchased a new stake in Cellebrite DI during the 1st quarter valued at $63,000. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI during the 4th quarter valued at $85,000. Finally, NewEdge Advisors LLC raised its stake in Cellebrite DI by 600.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after buying an additional 3,352 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

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.