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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $20.29.

Several brokerages recently commented on CLBT. Craig Hallum upped their target price on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America increased their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. TD Cowen boosted their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Needham & Company LLC increased their price target on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 16th.

Cellebrite DI Stock Performance

CLBT stock opened at $19.72 on Monday. The company has a market capitalization of $4.06 billion, a P/E ratio of -13.02, a PEG ratio of 2.55 and a beta of 1.50. The company has a fifty day moving average price of $17.92 and a 200-day moving average price of $14.77. Cellebrite DI has a 52-week low of $7.91 and a 52-week high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last announced its 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 analyst estimates of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. Cellebrite DI’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. As a group, sell-side analysts forecast that Cellebrite DI 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 made changes to their positions in the stock. Quarry LP acquired a new position in Cellebrite DI during the 3rd quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after acquiring an additional 1,017 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of Cellebrite DI in the 2nd quarter worth $71,000. Finally, Pathway Financial Advisers LLC grew its position in Cellebrite DI by 1,583.8% in 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. Institutional investors own 45.88% of the company’s stock.

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.