JPMorgan Chase & Co. Issues Positive Forecast for Cellebrite DI (NASDAQ:CLBT) Stock Price

Cellebrite DI (NASDAQ:CLBT) had its price objective lifted by JPMorgan Chase & Co. from $22.00 to $24.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently commented on CLBT. Needham & Company LLC increased their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” 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 report on Monday, September 23rd. Finally, Craig Hallum upped their price target on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.57.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $20.29 on Monday. The stock has a fifty day moving average price of $18.93 and a 200 day moving average price of $15.82. The stock has a market cap of $4.18 billion, a P/E ratio of -12.83, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51. Cellebrite DI has a one year low of $7.91 and a one year high of $21.72.

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

Institutional Investors Weigh In On Cellebrite DI

Several institutional investors have recently bought and sold shares of the company. Telemark Asset Management LLC bought a new stake in Cellebrite DI during the third quarter worth about $6,736,000. Two Sigma Advisers LP grew its position in shares of Cellebrite DI by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock valued at $22,584,000 after purchasing an additional 120,000 shares during the last quarter. Scalar Gauge Management LLC grew its holdings in Cellebrite DI by 15.2% in the 2nd quarter. Scalar Gauge Management LLC now owns 453,554 shares of the company’s stock valued at $5,420,000 after buying an additional 60,000 shares in the last quarter. Connors Investor Services Inc. bought a new position in Cellebrite DI during the second quarter worth about $1,803,000. Finally, Principal Financial Group Inc. bought a new position in shares of Cellebrite DI during the third quarter worth approximately $23,402,000. 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.