Brokerages Set Cellebrite DI Ltd. (NASDAQ:CLBT) Price Target at $20.57

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have earned an average rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.57.

CLBT has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their price target on shares of Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC boosted their price objective on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum increased their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Hedge Funds Weigh In On Cellebrite DI

Institutional investors have recently modified their holdings of the business. FMR LLC grew its position in Cellebrite DI by 136.3% during the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after purchasing an additional 3,239,307 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Cellebrite DI during the third quarter worth about $23,402,000. Lord Abbett & CO. LLC purchased a new position in shares of Cellebrite DI during the third quarter worth about $11,523,000. Summit Partners Public Asset Management LLC acquired a new position in Cellebrite DI in the 3rd quarter valued at about $9,274,000. Finally, Meitav Investment House Ltd. raised its stake in Cellebrite DI by 29.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after acquiring an additional 473,293 shares during the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Down 0.6 %

Shares of Cellebrite DI stock opened at $21.83 on Tuesday. Cellebrite DI has a 52-week low of $7.91 and a 52-week high of $22.91. The company has a 50 day moving average of $20.33 and a 200 day moving average of $17.12. The company has a market capitalization of $4.50 billion, a P/E ratio of -14.08, a P/E/G ratio of 2.71 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data 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. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The business had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $102.06 million. During the same period in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, research analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current fiscal 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.