Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $13.50

Cellebrite DI (NASDAQ:CLBT) had its price target upped by equities researchers at Needham & Company LLC from $13.00 to $13.50 in a report released on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 17.90% from the stock’s current price.

A number of other equities research analysts have also recently commented on CLBT. William Blair raised Cellebrite DI from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 13th. Bank of America raised Cellebrite DI from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.00 to $12.00 in a research note on Friday, February 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.10.

Cellebrite DI Stock Down 3.5 %

Shares of CLBT stock opened at $11.45 on Thursday. The company has a market cap of $2.35 billion, a P/E ratio of -26.63, a P/E/G ratio of 2.09 and a beta of 1.56. Cellebrite DI has a twelve month low of $5.22 and a twelve month high of $12.50. The business has a fifty day simple moving average of $10.64 and a 200 day simple moving average of $8.80.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, February 15th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. The business had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $85.43 million. As a group, equities research analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Cellebrite DI

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in shares of Cellebrite DI by 75.0% in the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after buying an additional 1,500 shares during the period. Citigroup Inc. boosted its holdings in shares of Cellebrite DI by 4.7% in the 3rd quarter. Citigroup Inc. now owns 36,622 shares of the company’s stock worth $280,000 after purchasing an additional 1,648 shares in the last quarter. Barclays PLC boosted its holdings in shares of Cellebrite DI by 14.5% in the 3rd quarter. Barclays PLC now owns 15,608 shares of the company’s stock worth $119,000 after purchasing an additional 1,982 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Cellebrite DI by 4.3% in the 3rd quarter. LPL Financial LLC now owns 48,485 shares of the company’s stock valued at $371,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Cellebrite DI by 4.8% in the 4th quarter. Legal & General Group Plc now owns 45,528 shares of the company’s stock valued at $394,000 after acquiring an additional 2,100 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Company Profile

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the United States, and the Asia-Pacific. Its DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation.