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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have received an average rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings 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 $23.43.

Several analysts recently commented on CLBT shares. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Cellebrite DI in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. 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 research report on Thursday, November 7th. Finally, Lake Street Capital upped their price objective on Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, February 14th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in Cellebrite DI in the 3rd quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its stake in shares of Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after buying an additional 1,742 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Cellebrite DI by 1,583.8% in the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after acquiring an additional 4,118 shares during the period. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI during the fourth quarter valued at $85,000. Finally, NewEdge Advisors LLC increased its position in Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after acquiring an additional 3,352 shares during the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Stock Performance

Shares of CLBT opened at $18.32 on Wednesday. Cellebrite DI has a fifty-two week low of $10.24 and a fifty-two week high of $26.30. The firm’s 50-day simple moving average is $22.51 and its two-hundred day simple moving average is $19.51. The stock has a market cap of $3.77 billion, a PE ratio of -13.18, a price-to-earnings-growth ratio of 4.27 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. Equities research analysts predict that Cellebrite DI will post 0.3 EPS for the current year.

Cellebrite DI Company Profile

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.