Needham & Company LLC Reaffirms "Buy" Rating for Cellebrite DI (NASDAQ:CLBT)

Cellebrite DI (NASDAQ:CLBT - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They presently have a $24.00 target price on the stock. Needham & Company LLC's target price indicates a potential upside of 45.19% from the stock's current price.

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

Cellebrite DI Price Performance

CLBT stock traded down $0.31 during midday trading on Friday, hitting $16.53. 2,121,047 shares of the stock traded hands, compared to its average volume of 1,476,857. Cellebrite DI has a 1-year low of $10.42 and a 1-year high of $26.30. The stock's fifty day simple moving average is $18.36 and its 200-day simple moving average is $20.07. The firm has a market cap of $3.96 billion, a P/E ratio of -11.89, a PEG ratio of 4.27 and a beta of 1.32.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. The business had revenue of $107.55 million during the quarter, compared to analysts' expectations of $109.36 million. During the same period in the previous year, the business earned $0.08 earnings per share. The business's revenue was up 20.0% compared to the same quarter last year. On average, research analysts predict that Cellebrite DI will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds have recently modified their holdings of the company. Militia Capital Partners LP acquired a new position in Cellebrite DI in the 1st quarter valued at about $777,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cellebrite DI by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,013 shares of the company's stock valued at $3,362,000 after buying an additional 24,881 shares during the period. Josh Arnold Investment Consultant LLC acquired a new position in shares of Cellebrite DI in the 1st quarter valued at $1,418,000. Bosun Asset Management LLC boosted its stake in Cellebrite DI by 2.5% during the first quarter. Bosun Asset Management LLC now owns 44,376 shares of the company's stock worth $862,000 after buying an additional 1,069 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Cellebrite DI by 24.7% during the first quarter. Advisors Asset Management Inc. now owns 6,133 shares of the company's stock valued at $119,000 after acquiring an additional 1,214 shares during the last quarter. Hedge funds and other institutional investors 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.