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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been given an average rating of “Buy” by the eight brokerages that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.57.

Several research firms have weighed in on CLBT. Needham & Company LLC raised their price target on Cellebrite DI from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Craig Hallum upped their target price 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.

Cellebrite DI Price Performance

CLBT opened at $24.04 on Friday. The stock’s 50 day simple moving average is $21.69 and its 200 day simple moving average is $18.29. The stock has a market cap of $4.95 billion, a P/E ratio of -15.51, a P/E/G ratio of 3.54 and a beta of 1.46. Cellebrite DI has a 1-year low of $8.91 and a 1-year high of $24.62.

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

Institutional Trading of Cellebrite DI

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Cellebrite DI by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock worth $7,202,000 after acquiring an additional 75,092 shares during the period. Telemark Asset Management LLC purchased a new position in Cellebrite DI during the third quarter worth approximately $6,736,000. Two Sigma Advisers LP boosted its holdings in shares of Cellebrite DI by 9.8% in the 3rd 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. Harbor Capital Advisors Inc. grew its stake in shares of Cellebrite DI by 65.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock valued at $3,473,000 after buying an additional 62,320 shares during the period. Finally, State Street Corp increased its holdings in shares of Cellebrite DI by 7.3% during the 3rd quarter. State Street Corp now owns 443,700 shares of the company’s stock worth $7,472,000 after buying an additional 30,052 shares during the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

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.