Needham & Company LLC Has Lowered Expectations for Cellebrite DI (NASDAQ:CLBT) Stock Price

Key Points

• Needham & Company LLC has lowered its target price for Cellebrite DI (NASDAQ:CLBT) from $24.00 to $18.00, maintaining a "buy" rating which suggests a potential upside of 16.58% from its current price.
• In addition to Needham, Wall Street Zen has downgraded the stock from a "buy" to a "hold" rating, indicating mixed analyst sentiment about Cellebrite DI's future performance.
• Cellebrite DI reported a quarterly earnings per share of $0.12, slightly beating analysts' expectations, with revenues increasing by 18.4% compared to the same quarter last year.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) had its target price lowered by investment analysts at Needham & Company LLC from $24.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 16.58% from the company's current price.

A number of other research analysts have also commented on the company. Wall Street Zen lowered Cellebrite DI from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lowered their target price on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Cellebrite DI has a consensus rating of "Moderate Buy" and an average target price of $21.57.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT traded up $1.45 during trading on Thursday, reaching $15.44. The stock had a trading volume of 6,628,658 shares, compared to its average volume of 1,603,083. Cellebrite DI has a one year low of $13.10 and a one year high of $26.30. The stock has a market cap of $3.70 billion, a PE ratio of -16.17, a P/E/G ratio of 2.81 and a beta of 1.27. The firm's 50 day moving average price is $15.03 and its two-hundred day moving average price is $17.93.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. Cellebrite DI had a positive return on equity of 35.36% and a negative net margin of 46.34%. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. On average, research analysts expect that Cellebrite DI will post 0.3 earnings per share for the current year.

Institutional Trading of Cellebrite DI

Several large investors have recently made changes to their positions in the company. Qube Research & Technologies Ltd boosted its stake in shares of Cellebrite DI by 93.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,500,505 shares of the company's stock worth $24,008,000 after buying an additional 725,679 shares during the last quarter. Thematics Asset Management purchased a new stake in shares of Cellebrite DI during the second quarter worth about $13,919,000. Voss Capital LP raised its stake in Cellebrite DI by 34.0% in the second quarter. Voss Capital LP now owns 5,150,000 shares of the company's stock worth $82,400,000 after buying an additional 1,306,398 shares in the last quarter. Jump Financial LLC increased its stake in shares of Cellebrite DI by 158.5% during the second quarter. Jump Financial LLC now owns 535,059 shares of the company's stock valued at $8,561,000 after purchasing an additional 328,094 shares in the last quarter. Finally, Diametric Capital LP bought a new position in shares of Cellebrite DI during the second quarter valued at approximately $207,000. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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