Cellebrite DI (NASDAQ:CLBT) Reaches New 52-Week High on Analyst Upgrade

Cellebrite DI Ltd. (NASDAQ:CLBT)’s share price reached a new 52-week high during trading 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. The stock had previously closed at $23.14.

A number of other research firms have also commented on CLBT. Craig Hallum lifted their target price on Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. 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 note on Monday, December 16th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $21.57.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Juncture Wealth Strategies LLC lifted its position in Cellebrite DI by 0.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock valued at $1,322,000 after purchasing an additional 505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in 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 purchasing an additional 1,017 shares in the last quarter. Tower View Wealth Management LLC lifted its position in Cellebrite DI by 1.2% during the third quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock valued at $2,200,000 after purchasing an additional 1,500 shares in the last quarter. Quarry LP purchased a new position in Cellebrite DI during the third quarter valued at $27,000. Finally, Advisors Asset Management Inc. lifted its position in Cellebrite DI by 130.5% during the third 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 in the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Cellebrite DI Price Performance

The company has a market capitalization of $4.92 billion, a PE ratio of -15.40, a P/E/G ratio of 3.36 and a beta of 1.46. The company has a 50-day moving average of $20.94 and a two-hundred day moving average of $17.79.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $106.90 million for 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 business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, research analysts anticipate that Cellebrite DI Ltd. will post 0.32 EPS for the current 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.