Brokerages Set Cellebrite DI Ltd. (NASDAQ:CLBT) Price Target at $21.57

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.57.

A number of research analysts have weighed in on the company. Craig Hallum lifted 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. JPMorgan Chase & Co. upped their price target on shares of Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Needham & Company LLC raised their price objective on shares of Cellebrite DI from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd.

Hedge Funds Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. JPMorgan Chase & Co. boosted its position in shares of Cellebrite DI by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock worth $7,202,000 after purchasing an additional 75,092 shares during the period. Telemark Asset Management LLC bought a new stake in shares of Cellebrite DI during the third quarter valued at approximately $6,736,000. Two Sigma Advisers LP grew its holdings in Cellebrite DI by 9.8% during the 3rd quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock worth $22,584,000 after acquiring an additional 120,000 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Cellebrite DI by 65.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock valued at $3,473,000 after purchasing an additional 62,320 shares in the last quarter. Finally, State Street Corp increased its position in shares of Cellebrite DI by 7.3% during the third quarter. State Street Corp now owns 443,700 shares of the company’s stock worth $7,472,000 after purchasing an additional 30,052 shares in the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Cellebrite DI Stock Performance

Shares of CLBT opened at $24.67 on Friday. The stock has a 50 day moving average price of $21.77 and a two-hundred day moving average price of $18.46. Cellebrite DI has a 52 week low of $8.91 and a 52 week high of $24.89. The firm has a market capitalization of $5.08 billion, a P/E ratio of -15.92, a P/E/G ratio of 3.55 and a beta of 1.47.

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, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The firm had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. During the same period last year, the firm posted $0.09 EPS. The business’s revenue was up 27.0% compared to the same quarter last year. On average, equities analysts forecast that Cellebrite DI will post 0.32 earnings per share 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.