Cellebrite DI (NASDAQ:CLBT) Reaches New 1-Year High – Time to Buy?

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) reached a new 52-week high during trading on Friday . The company traded as high as $21.86 and last traded at $21.23, with a volume of 62342 shares. The stock had previously closed at $21.29.

Analyst Ratings Changes

Several research analysts recently weighed in on CLBT shares. JPMorgan Chase & Co. lifted their target price on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Needham & Company LLC raised their price objective 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 boosted their target price on 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 raised their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.57.

Cellebrite DI Stock Performance

The firm has a fifty day moving average of $19.23 and a 200 day moving average of $16.14. The firm has a market capitalization of $4.64 billion, a PE ratio of -14.53, a P/E/G ratio of 2.71 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. Research analysts forecast that Cellebrite DI Ltd. will post 0.32 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 added to or reduced their stakes in CLBT. Principal Financial Group Inc. acquired a new position in shares of Cellebrite DI in the third quarter worth about $23,402,000. Lord Abbett & CO. LLC purchased a new stake in Cellebrite DI during the 3rd quarter worth approximately $11,523,000. Tidal Investments LLC raised its position in shares of Cellebrite DI by 59.3% in the 3rd quarter. Tidal Investments LLC now owns 104,478 shares of the company’s stock valued at $1,759,000 after purchasing an additional 38,887 shares in the last quarter. Barclays PLC boosted its stake in shares of Cellebrite DI by 29.1% during the 3rd quarter. Barclays PLC now owns 263,657 shares of the company’s stock valued at $4,439,000 after buying an additional 59,395 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Cellebrite DI during the third quarter worth approximately $4,936,000. 45.88% of the stock is owned by hedge funds and other 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.