Cellebrite DI (NASDAQ:CLBT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Cellebrite DI (NASDAQ:CLBT) in a research note released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 price objective on the stock.

CLBT has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday. Craig Hallum lifted their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.43.

Cellebrite DI Price Performance

Shares of Cellebrite DI stock opened at $20.50 on Friday. Cellebrite DI has a 12-month low of $9.96 and a 12-month high of $26.30. The company’s fifty day simple moving average is $22.58 and its two-hundred day simple moving average is $19.10.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. As a group, equities analysts forecast that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Cellebrite DI in the third quarter worth about $27,000. Advisors Asset Management Inc. raised its holdings in Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after buying an additional 1,742 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in Cellebrite DI by 1,583.8% in the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after buying an additional 4,118 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Cellebrite DI by 600.7% in the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock worth $86,000 after buying an additional 3,352 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Cellebrite DI in the fourth quarter worth about $100,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.