Cellebrite DI Ltd. (NASDAQ:CLBT) Given Average Recommendation of “Buy” by Brokerages

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.57.

A number of brokerages have commented on CLBT. JPMorgan Chase & Co. upped their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Lake Street Capital upped their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Craig Hallum boosted their price target on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their price objective on shares of Cellebrite DI from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Bank of America upped their price objective on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th.

Hedge Funds Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in Cellebrite DI by 75.0% during the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after purchasing an additional 1,500 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after buying an additional 1,017 shares during the last quarter. Quarry LP bought a new position in shares of Cellebrite DI during the 4th quarter valued at $36,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Cellebrite DI in the second quarter worth about $71,000. Finally, nVerses Capital LLC acquired a new stake in shares of Cellebrite DI in the second quarter worth $103,000. Institutional investors own 45.88% of the company’s stock.

Cellebrite DI Stock Down 2.1 %

NASDAQ:CLBT opened at $16.85 on Friday. The stock’s fifty day moving average is $15.61 and its two-hundred day moving average is $12.85. Cellebrite DI has a 52 week low of $6.36 and a 52 week high of $17.82. The company has a market capitalization of $3.47 billion, a P/E ratio of -29.05, a P/E/G ratio of 2.32 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, August 15th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. Cellebrite DI’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Sell-side analysts anticipate that Cellebrite DI will post 0.31 earnings per share for the current fiscal year.

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.