Cellebrite DI Ltd. (NASDAQ:CLBT) Receives $13.17 Average Price Target from Analysts

Cellebrite DI Ltd. (NASDAQ:CLBT) has been given an average recommendation of “Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.17.

Several brokerages have issued reports on CLBT. JPMorgan Chase & Co. lifted their target price on shares of Cellebrite DI from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Craig Hallum raised their price objective on shares of Cellebrite DI from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC upped their target price on shares of Cellebrite DI from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Lake Street Capital started coverage on Cellebrite DI in a research report on Friday, April 19th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Bank of America lifted their price target on Cellebrite DI from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, April 1st.

Cellebrite DI Stock Performance

Shares of CLBT stock opened at $11.88 on Friday. Cellebrite DI has a 52-week low of $6.18 and a 52-week high of $12.67. The business’s fifty day moving average is $11.16 and its 200 day moving average is $10.38. The company has a market capitalization of $2.45 billion, a PE ratio of -20.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. The firm had revenue of $89.60 million for the quarter, compared to analysts’ expectations of $85.34 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cellebrite DI will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLBT. Parallel Advisors LLC increased its position in Cellebrite DI by 75.0% during the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after buying an additional 1,500 shares in the last quarter. Quarry LP purchased a new position in shares of Cellebrite DI in the 4th quarter worth about $36,000. Central Asset Investments & Management Holdings HK Ltd bought a new position in Cellebrite DI in the 4th quarter worth about $113,000. New York State Common Retirement Fund increased its stake in Cellebrite DI by 166.0% during the 3rd quarter. New York State Common Retirement Fund now owns 15,440 shares of the company’s stock valued at $118,000 after purchasing an additional 9,635 shares in the last quarter. Finally, Barclays PLC raised its holdings in Cellebrite DI by 14.5% in the third quarter. Barclays PLC now owns 15,608 shares of the company’s stock worth $119,000 after buying an additional 1,982 shares during the last quarter. Hedge funds and other institutional investors 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.