Needham & Company LLC Has Lowered Expectations for Cellebrite DI (NASDAQ:CLBT) Stock Price

Cellebrite DI (NASDAQ:CLBT) had its price objective decreased by equities researchers at Needham & Company LLC from $24.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 22.95% from the stock’s current price.

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

Cellebrite DI Price Performance

NASDAQ CLBT opened at $14.64 on Thursday. Cellebrite DI has a fifty-two week low of $13.10 and a fifty-two week high of $21.42. The stock’s 50-day moving average is $17.05 and its two-hundred day moving average is $16.98. The firm has a market cap of $3.51 billion, a P/E ratio of 47.23, a price-to-earnings-growth ratio of 1.91 and a beta of 1.28.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. acquired a new stake in Cellebrite DI during the third quarter worth about $28,000. CWM LLC raised its holdings in Cellebrite DI by 85.7% in the 3rd quarter. CWM LLC now owns 1,560 shares of the company’s stock valued at $29,000 after acquiring an additional 720 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Cellebrite DI by 1,998.0% in the 2nd 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. Toth Financial Advisory Corp acquired a new stake in shares of Cellebrite DI during the 3rd quarter worth approximately $38,000. Finally, Advisory Services Network LLC bought a new stake in shares of Cellebrite DI during the third quarter valued at approximately $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.