JPMorgan Chase & Co. Issues Positive Forecast for Cellebrite DI (NASDAQ:CLBT) Stock Price

Cellebrite DI (NASDAQ:CLBT) had its price target lifted by research analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.64% from the company’s current price.

CLBT has been the subject of a number of other reports. 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 report on Thursday, November 7th. Needham & Company LLC lifted their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, TD Cowen increased their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $20.57.

Cellebrite DI Stock Down 0.3 %

Shares of CLBT stock opened at $20.23 on Monday. The firm’s 50 day moving average price is $18.98 and its two-hundred day moving average price is $15.88. Cellebrite DI has a fifty-two week low of $7.91 and a fifty-two week high of $21.72. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -13.05, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. On average, equities analysts forecast that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Several hedge funds have recently made changes to their positions in CLBT. Point72 Asia Singapore Pte. Ltd. raised its holdings in Cellebrite DI by 59.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after buying an additional 1,017 shares during the period. Tower View Wealth Management LLC raised 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 buying an additional 1,500 shares during the period. Quarry LP purchased a new stake in Cellebrite DI in the 3rd quarter worth about $27,000. Advisors Asset Management Inc. grew its stake in Cellebrite DI by 130.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after acquiring an additional 1,742 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Cellebrite DI by 28.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $152,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds 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.