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

Cellebrite DI (NASDAQ:CLBT) had its price target upped by investment analysts at Needham & Company LLC from $13.00 to $13.50 in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 17.90% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank of America raised shares of Cellebrite DI from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $12.00 in a research report on Friday, February 16th. William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Cellebrite DI presently has an average rating of “Buy” and an average target price of $11.10.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $11.45 on Thursday. The company has a market capitalization 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. The company’s 50-day simple moving average is $10.64 and its two-hundred day simple moving average is $8.80. Cellebrite DI has a one year low of $5.22 and a one year high of $12.50.

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

Institutional Trading of Cellebrite DI

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG acquired a new stake in shares of Cellebrite DI in the first quarter worth $26,000. Virtus Fund Advisers LLC acquired a new stake in shares of Cellebrite DI in the fourth quarter worth $28,000. Parallel Advisors LLC grew its position in Cellebrite DI by 75.0% during 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. Lazard Asset Management LLC acquired a new stake in Cellebrite DI during the fourth quarter valued at $32,000. Finally, Steward Partners Investment Advisory LLC grew its position in Cellebrite DI by 81.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,784 shares of the company’s stock valued at $34,000 after buying an additional 3,494 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

About Cellebrite DI

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.