Cellebrite DI (NASDAQ:CLBT) price target raised to $17.00

Cellebrite DI (NASDAQ:CLBT – Get Free Report) had its price objective raised by research analysts at Needham & Company LLC from $14.00 to $17.00 in a report issued Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 13.64% to the stock’s current price.

CLBT has been the subject of several other research reports. Lake Street Capital initiated coverage on Cellebrite DI in a research note on Friday, April 19th. They gave the company a “buy” rating and a $13.00 price target. JPMorgan Chase & Co. raised their price target on shares of Cellebrite DI to $15.00 and gave the company an “overweight” rating in a report on Wednesday. Six investment analysts have rated the stock with a “buy” rating. Based on data from MarketBeat, the stock currently has a consensus rating of “buy” and an average price target of $14.80.

Get our latest stock report on CLBT

Cellebrite DI Stock Performance

Cellebrite DI shares opened at $14.96 on Friday. Cellebrite DI has a one-year low of $6.36 and a one-year high of $16.42. The company has a 50-day simple moving average of $12.54 and a 200-day simple moving average of $11.50. The company has a market cap of $3.08 billion, a price/earnings ratio of -25.79, a price/earnings/growth ratio of 1.84, and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT – Get Free Report) last released its earnings results on Thursday, May 23. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $89.60 million during the quarter, compared to analysts’ expectations of $85.34 million. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 417.94%. Cellebrite DI’s quarterly revenue increased by 25.8% year over year. In the year-ago quarter, the company earned $0.03 EPS. As a group, sell-side analysts are predicting that Cellebrite DI will post 0.34 EPS for the current year.

Institutional investors weigh Cellebrite DI

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. Parallel Advisors LLC increased its stake in Cellebrite DI by 75.0% in the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after purchasing an additional 1,500 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after purchasing an additional 1,017 shares during the period. Quarry LP purchased a new position in shares of Cellebrite DI during the fourth quarter worth $36,000. Public Employees Retirement Association of Colorado acquired a new position in Cellebrite DI during the second quarter worth $71,000. Finally, nVerses Capital LLC acquired a new stake in Cellebrite DI in the second quarter worth approximately $103,000. 45.88% of the shares are held by institutional investors and hedge funds.

About Cellebrite DI

(Get free report)

Cellebrite DI Ltd. develops solutions for regulatory investigations in Europe, the Middle East, Africa, the Americas and Asia Pacific. The company’s DI solutions enable users to collect, review, analyze and manage digital data throughout the investigation cycle for regulatory investigations used in a variety of cases including child exploitation, homicide, counter-terrorism, border control, sexual crimes, human trafficking, corporate security, cryptocurrency and intellectual property theft.

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