Needham & Company LLC Forecasts Strong Price Appreciation for Cellebrite DI (NASDAQ:CLBT) Stock

by · The Markets Daily

Cellebrite DI (NASDAQ:CLBT – Get Free Report) had its price objective boosted by investment analysts at Needham & Company LLC from $17.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 10.01% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Lake Street Capital lifted their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. TD Cowen upped their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Craig Hallum boosted their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Bank of America upped their price target on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI has a consensus rating of “Buy” and an average price target of $19.14.

Check Out Our Latest Analysis on CLBT

Cellebrite DI Stock Performance

Shares of CLBT opened at $19.09 on Thursday. Cellebrite DI has a 52 week low of $7.15 and a 52 week high of $21.00. The firm’s 50-day simple moving average is $17.55 and its 200 day simple moving average is $14.20. The firm has a market cap of $3.93 billion, a P/E ratio of -36.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT – Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $95.70 million during the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. As a group, equities analysts forecast that Cellebrite DI will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. lifted its position in Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after purchasing an additional 1,017 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Cellebrite DI in the 2nd quarter worth about $71,000. Pathway Financial Advisers LLC boosted its stake in shares of Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after purchasing an additional 4,118 shares during the period. nVerses Capital LLC purchased a new position in shares of Cellebrite DI during the second quarter valued at approximately $103,000. Finally, TD Asset Management Inc bought a new stake in shares of Cellebrite DI during the second quarter worth $121,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

About Cellebrite DI

(Get Free Report)

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.

Featured Stories