Cellebrite DI Ltd. (NASDAQ:CLBT) Given Consensus Rating of “Buy” by Analysts

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.17.

A number of research analysts have recently commented on the stock. Lake Street Capital assumed coverage on shares of Cellebrite DI in a research note on Friday, April 19th. They set a “buy” rating and a $13.00 price objective for the company. William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Cellebrite DI from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Bank of America upped their price objective on shares of Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Needham & Company LLC boosted their target price on Cellebrite DI from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Friday, May 24th.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT opened at $12.00 on Friday. The firm has a market capitalization of $2.47 billion, a P/E ratio of -20.69, a PEG ratio of 1.63 and a beta of 1.48. Cellebrite DI has a one year low of $6.16 and a one year high of $12.67. The company’s fifty day moving average is $11.13 and its two-hundred day moving average is $10.33.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. The business had revenue of $89.60 million during the quarter, compared to the consensus estimate of $85.34 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts forecast that Cellebrite DI will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently bought and sold shares of CLBT. IGP Investments G.P.L.P LP purchased a new position in shares of Cellebrite DI during the 4th quarter valued at approximately $182,619,000. Voss Capital LLC boosted its stake in shares of Cellebrite DI by 207.7% during the 4th quarter. Voss Capital LLC now owns 1,835,000 shares of the company’s stock valued at $15,891,000 after buying an additional 1,238,580 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Cellebrite DI by 295.6% during the 3rd quarter. Acadian Asset Management LLC now owns 1,646,480 shares of the company’s stock valued at $12,563,000 after buying an additional 1,230,244 shares during the last quarter. Pembroke Management LTD purchased a new position in shares of Cellebrite DI during the 1st quarter valued at approximately $8,304,000. Finally, Scalar Gauge Management LLC purchased a new position in shares of Cellebrite DI during the 4th quarter valued at approximately $5,914,000. Hedge funds and other institutional investors 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 Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.