Cellebrite DI Ltd. (NASDAQ:CLBT) Receives Average Rating of “Buy” from Brokerages

Cellebrite DI Ltd. (NASDAQ:CLBT) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $20.57.

Several analysts have commented on CLBT shares. TD Cowen raised 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. JPMorgan Chase & Co. increased their price objective on Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Craig Hallum raised their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC raised their target price on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Cellebrite DI by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock worth $7,202,000 after buying an additional 75,092 shares in the last quarter. Principal Financial Group Inc. bought a new position in Cellebrite DI in the 3rd quarter valued at approximately $23,402,000. Lord Abbett & CO. LLC purchased a new stake in Cellebrite DI during the 3rd quarter valued at $11,523,000. Tidal Investments LLC increased its holdings 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 worth $1,759,000 after purchasing an additional 38,887 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Cellebrite DI by 29.1% in the third quarter. Barclays PLC now owns 263,657 shares of the company’s stock worth $4,439,000 after purchasing an additional 59,395 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Price Performance

Cellebrite DI stock opened at $22.24 on Tuesday. Cellebrite DI has a 52-week low of $7.91 and a 52-week high of $22.91. The stock has a fifty day moving average price of $20.04 and a two-hundred day moving average price of $16.91. The firm has a market capitalization of $4.58 billion, a P/E ratio of -14.35, a P/E/G ratio of 2.71 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm 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 company’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. On average, equities research analysts predict that Cellebrite DI will post 0.32 EPS 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.