Bank of America Raises Cellebrite DI (NASDAQ:CLBT) Price Target to $17.00

Cellebrite DI (NASDAQ:CLBT) had its target price increased by Bank of America from $13.00 to $17.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on CLBT. Craig Hallum upped their price target on shares of Cellebrite DI from $16.00 to $20.00 and gave the stock a buy rating in a research report on Friday. Lake Street Capital increased their target price on Cellebrite DI from $13.50 to $17.00 and gave the company a buy rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Cellebrite DI from $14.00 to $15.00 and gave the company an overweight rating in a research report on Wednesday, August 14th. Finally, Needham & Company LLC boosted their price target on Cellebrite DI from $14.00 to $17.00 and gave the stock a buy rating in a research report on Friday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $17.33.

Cellebrite DI Trading Up 9.9 %

Shares of CLBT opened at $16.44 on Friday. The firm has a market cap of $3.39 billion, a P/E ratio of -28.34, a PEG ratio of 1.90 and a beta of 1.50. Cellebrite DI has a 12 month low of $6.36 and a 12 month high of $16.59. The stock’s 50 day moving average is $12.66 and its two-hundred day moving average is $11.58.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 417.94%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. Equities research analysts forecast that Cellebrite DI will post 0.34 EPS for the current year.

Institutional Trading of Cellebrite DI

Several institutional investors have recently made changes to their positions in CLBT. Parallel Advisors LLC grew its position in Cellebrite DI by 75.0% in the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after acquiring an additional 1,500 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Cellebrite DI by 59.6% in the 2nd 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 during the last quarter. Quarry LP purchased a new position in shares of Cellebrite DI during the 4th quarter worth $36,000. Public Employees Retirement Association of Colorado purchased a new stake in Cellebrite DI in the 2nd quarter valued at about $71,000. Finally, nVerses Capital LLC purchased a new stake in Cellebrite DI in the 2nd quarter valued at about $103,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.