Cellebrite DI (NASDAQ:CLBT) Sets New 1-Year High Following Analyst Upgrade

Cellebrite DI Ltd. (NASDAQ:CLBT) shares reached a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $21.00 to $28.00. Needham & Company LLC currently has a buy rating on the stock. Cellebrite DI traded as high as $23.50 and last traded at $24.13, with a volume of 2012 shares changing hands. The stock had previously closed at $23.14.

CLBT has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Craig Hallum lifted 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $21.57.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds have recently added to or reduced their stakes in CLBT. Quarry LP bought a new stake in shares of Cellebrite DI during the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cellebrite DI by 59.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after buying an additional 1,017 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Cellebrite DI by 130.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after purchasing an additional 1,742 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after purchasing an additional 4,118 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new position in Cellebrite DI in the 2nd quarter worth about $71,000. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Stock Performance

The firm has a market capitalization of $4.92 billion, a P/E ratio of -15.40, a price-to-earnings-growth ratio of 3.36 and a beta of 1.46. The business has a 50 day simple moving average of $20.94 and a two-hundred day simple moving average of $17.79.

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, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. On average, equities analysts anticipate that Cellebrite DI Ltd. will post 0.32 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.