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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.57.

Several brokerages have commented on CLBT. TD Cowen upped their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Craig Hallum increased their target price on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Needham & Company LLC upped their price target on Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Cellebrite DI Stock Up 1.1 %

Shares of CLBT opened at $21.81 on Tuesday. The stock’s fifty day simple moving average is $20.46 and its 200-day simple moving average is $17.34. The firm has a market capitalization of $4.49 billion, a PE ratio of -14.07, a price-to-earnings-growth ratio of 2.71 and a beta of 1.46. Cellebrite DI has a 12-month low of $7.91 and a 12-month high of $22.91.

Cellebrite DI (NASDAQ:CLBT) last issued 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 negative net margin of 82.28% and a positive return on equity of 122.59%. The company had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. During the same quarter last year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. Analysts anticipate that Cellebrite DI will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently modified their holdings of CLBT. FMR LLC boosted its holdings in shares of Cellebrite DI by 136.3% in the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after buying an additional 3,239,307 shares during the period. Meitav Investment House Ltd. lifted its position in Cellebrite DI by 29.7% in 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 in the last quarter. Pembroke Management LTD boosted its stake in Cellebrite DI by 24.3% in the 3rd quarter. Pembroke Management LTD now owns 1,908,345 shares of the company’s stock worth $32,137,000 after purchasing an additional 372,619 shares during the period. Principal Financial Group Inc. bought a new position in Cellebrite DI during the 3rd quarter worth about $23,402,000. Finally, Two Sigma Advisers LP raised its stake in shares of Cellebrite DI by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock valued at $22,584,000 after purchasing an additional 120,000 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.