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

Cellebrite DI Ltd. (NASDAQ:CLBT) has been given a consensus rating of “Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is $20.29.

CLBT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their target price on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. TD Cowen lifted their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Craig Hallum increased their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price target on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Cellebrite DI Stock Performance

NASDAQ:CLBT opened at $17.70 on Monday. The stock has a market capitalization of $3.64 billion, a PE ratio of -11.42, a P/E/G ratio of 2.41 and a beta of 1.50. Cellebrite DI has a fifty-two week low of $7.64 and a fifty-two week high of $21.00. The company has a fifty day moving average of $17.74 and a two-hundred day moving average of $14.57.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The firm had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. Research analysts forecast that Cellebrite DI will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently modified their holdings of CLBT. FMR LLC lifted its position in Cellebrite DI by 136.3% in the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after buying an additional 3,239,307 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Cellebrite DI in the 3rd quarter worth approximately $23,402,000. Pembroke Management LTD boosted its position in shares of Cellebrite DI by 104.9% during the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock worth $18,352,000 after purchasing an additional 786,310 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Cellebrite DI during the 3rd quarter worth approximately $9,274,000. Finally, Meitav Investment House Ltd. increased its holdings in Cellebrite DI by 29.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after purchasing an additional 473,293 shares during the last quarter. Institutional investors and hedge funds 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.