Cellebrite DI (NASDAQ:CLBT) Given New $17.00 Price Target at Bank of America

Cellebrite DI (NASDAQ:CLBT) had its price objective hoisted by Bank of America from $13.00 to $17.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

CLBT has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the company an overweight rating in a research report on Wednesday, August 14th. Needham & Company LLC boosted their price target on shares of Cellebrite DI from $14.00 to $17.00 and gave the stock a buy rating in a research note on Friday. Lake Street Capital increased their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a buy rating in a report on Friday. Finally, Craig Hallum lifted their price objective on Cellebrite DI from $16.00 to $20.00 and gave the company a buy rating in a report on Friday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI has an average rating of Buy and an average price target of $17.33.

Cellebrite DI Trading Down 0.4 %

Shares of CLBT opened at $16.37 on Friday. The company’s 50 day simple moving average is $12.75 and its 200-day simple moving average is $11.63. The firm has a market cap of $3.37 billion, a PE ratio of -28.22, a price-to-earnings-growth 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 $16.89.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 417.94%. Cellebrite DI’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. As a group, equities research analysts forecast that Cellebrite DI will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IGP Investments G.P.L.P LP purchased a new position in shares of Cellebrite DI during the 4th quarter worth $182,619,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Cellebrite DI by 7.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock worth $56,446,000 after buying an additional 514,858 shares during the period. Crosslink Capital Inc. boosted its stake in Cellebrite DI by 1.4% in the 4th quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock worth $28,063,000 after buying an additional 44,520 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Cellebrite DI by 26.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after buying an additional 612,787 shares during the period. Finally, Ashford Capital Management Inc. increased its stake in shares of Cellebrite DI by 23.5% during the 1st quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after acquiring an additional 350,140 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

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.