Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $28.00

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

Other equities analysts have also issued research reports about the stock. Craig Hallum increased their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $21.57.

Cellebrite DI Price Performance

NASDAQ:CLBT opened at $23.70 on Wednesday. The business has a fifty day simple moving average of $21.29 and a two-hundred day simple moving average of $17.95. The company has a market capitalization of $4.88 billion, a P/E ratio of -15.29, a P/E/G 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 quarterly earnings data 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 company had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Trading of Cellebrite DI

Hedge funds have recently added to or reduced their stakes in the business. Juncture Wealth Strategies LLC grew its stake in shares of Cellebrite DI by 0.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock valued at $1,322,000 after buying an additional 505 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Cellebrite DI by 59.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after acquiring an additional 1,017 shares during the period. Tower View Wealth Management LLC grew its position in Cellebrite DI by 1.2% during the 3rd quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock worth $2,200,000 after acquiring an additional 1,500 shares during the last quarter. Quarry LP purchased a new position in Cellebrite DI in the 3rd quarter worth approximately $27,000. Finally, Advisors Asset Management Inc. lifted its position in Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after purchasing an additional 1,742 shares during the last quarter. 45.88% of the stock is owned by 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.