Craig Hallum Increases Cellebrite DI (NASDAQ:CLBT) Price Target to $23.00

Cellebrite DI (NASDAQ:CLBT) had its price target upped by stock analysts at Craig Hallum from $20.00 to $23.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 36.42% from the stock’s previous close.

Several other brokerages have also recently commented on CLBT. Bank of America boosted their price target on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. TD Cowen upped their target price on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upped their target price on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Lake Street Capital upped their target price on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI presently has a consensus rating of “Buy” and a consensus price target of $18.57.

Cellebrite DI Price Performance

Shares of CLBT opened at $16.86 on Wednesday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -29.07, a P/E/G ratio of 2.38 and a beta of 1.52. Cellebrite DI has a fifty-two week low of $6.36 and a fifty-two week high of $17.82. The business’s 50-day moving average is $15.36 and its 200-day moving average is $12.76.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Equities research analysts expect that Cellebrite DI will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds have recently modified their holdings of CLBT. Parallel Advisors LLC boosted its position 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 acquiring an additional 1,500 shares during the period. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Cellebrite DI in the fourth quarter valued at $113,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Cellebrite DI by 7.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock valued at $56,446,000 after purchasing an additional 514,858 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Cellebrite DI in the fourth quarter valued at $2,222,000. Finally, Crosslink Capital Inc. raised its stake in shares of Cellebrite DI by 1.4% in the fourth quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock valued at $28,063,000 after purchasing an additional 44,520 shares in the last quarter. 45.88% of the stock is owned by institutional investors.

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.