Cellebrite DI (NASDAQ:CLBT) Reaches New 12-Month High – What’s Next?

Cellebrite DI Ltd. (NASDAQ:CLBT) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.08 and last traded at $21.04, with a volume of 191873 shares traded. The stock had previously closed at $20.40.

Analyst Ratings Changes

CLBT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. TD Cowen lifted their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Needham & Company LLC lifted their target price on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America lifted their target price on shares of Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Lake Street Capital lifted their target price on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has a consensus rating of “Buy” and a consensus price target of $20.29.

Cellebrite DI Stock Up 2.9 %

The firm’s fifty day moving average is $18.35 and its 200 day moving average is $15.31.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 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 company had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The firm’s revenue was up 27.0% compared to the same quarter last year. As a group, analysts expect that Cellebrite DI Ltd. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLBT. California State Teachers Retirement System boosted its stake in Cellebrite DI by 9.1% during the 1st quarter. California State Teachers Retirement System now owns 56,953 shares of the company’s stock worth $631,000 after purchasing an additional 4,734 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Cellebrite DI during the 1st quarter valued at about $654,000. Harbor Capital Advisors Inc. boosted its position in shares of Cellebrite DI by 311.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,624 shares of the company’s stock valued at $581,000 after acquiring an additional 36,808 shares during the last quarter. Juncture Wealth Strategies LLC acquired a new position in shares of Cellebrite DI during the 2nd quarter valued at about $500,000. Finally, Tower View Wealth Management LLC boosted its position in shares of Cellebrite DI by 6.2% during the 2nd quarter. Tower View Wealth Management LLC now owns 129,147 shares of the company’s stock valued at $1,543,000 after acquiring an additional 7,542 shares during the last quarter. Institutional investors and hedge funds 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.