Needham & Company LLC Cuts Cellebrite DI (NASDAQ:CLBT) Price Target to $18.00

Cellebrite DI (NASDAQ:CLBT) had its target price trimmed by Needham & Company LLC from $24.00 to $18.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

CLBT has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Bank of America lifted their target price on Cellebrite DI from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Lake Street Capital upped their price target on Cellebrite DI from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cellebrite DI in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Cellebrite DI from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Cellebrite DI Stock Up 6.9%

CLBT stock opened at $14.64 on Thursday. The company has a 50 day moving average of $17.05 and a two-hundred day moving average of $17.00. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 47.23, a PEG ratio of 2.04 and a beta of 1.28. Cellebrite DI has a 12-month low of $13.10 and a 12-month high of $21.42.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $128.82 million for the quarter, compared to analyst estimates of $126.07 million. Cellebrite DI had a net margin of 16.47% and a return on equity of 20.43%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. On average, research analysts anticipate that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in Cellebrite DI during the 3rd quarter worth approximately $28,000. CWM LLC increased its position in shares of Cellebrite DI by 85.7% during the third quarter. CWM LLC now owns 1,560 shares of the company’s stock worth $29,000 after acquiring an additional 720 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Cellebrite DI during the third quarter worth $38,000. PNC Financial Services Group Inc. raised its holdings in shares of Cellebrite DI by 1,998.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,098 shares of the company’s stock worth $34,000 after acquiring an additional 1,998 shares during the period. Finally, Advisory Services Network LLC acquired a new position in Cellebrite DI in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 45.88% of the company’s stock.

Cellebrite DI Company Profile

Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company’s technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.

The company’s flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.