Cellebrite DI (NASDAQ:CLBT) Hits New 1-Year High on Analyst Upgrade

Cellebrite DI Ltd. (NASDAQ:CLBT) reached a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $21.00 to $28.00. Needham & Company LLC currently has a buy rating on the stock. Cellebrite DI traded as high as $23.50 and last traded at $24.13, with a volume of 2012 shares trading hands. The stock had previously closed at $23.14.

A number of other research firms have also recently commented on CLBT. 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 report on Monday, December 16th. Craig Hallum raised their price target on Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Cellebrite DI has an average rating of “Buy” and a consensus target price of $21.57.

Hedge Funds Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in Cellebrite DI in the third quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after acquiring an additional 1,017 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after acquiring an additional 1,742 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Cellebrite DI during the 2nd quarter worth about $71,000. Finally, Pathway Financial Advisers LLC grew its holdings in Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after purchasing an additional 4,118 shares during the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Trading Up 3.9 %

The company has a market capitalization of $4.95 billion, a PE ratio of -15.51, a price-to-earnings-growth ratio of 3.36 and a beta of 1.46. The stock’s 50-day moving average is $20.85 and its two-hundred day moving average is $17.71.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

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.