Craig Hallum Increases Cellebrite DI (NASDAQ:CLBT) Price Target to $23.00

Cellebrite DI (NASDAQ:CLBT) had its price objective boosted by Craig Hallum from $20.00 to $23.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective would indicate a potential upside of 36.42% from the company’s current price.

A number of other research firms have also recently issued reports on CLBT. Bank of America lifted their price target on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. TD Cowen lifted their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC lifted their price objective on Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Lake Street Capital lifted their price objective on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.57.

Cellebrite DI Price Performance

Cellebrite DI stock opened at $16.86 on Wednesday. The stock has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $12.76. Cellebrite DI has a 52-week low of $6.36 and a 52-week high of $17.82. The firm has a market capitalization of $3.47 billion, a P/E ratio of -29.07, a P/E/G ratio of 2.38 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that Cellebrite DI will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd bought a new stake in Cellebrite DI in the 4th quarter valued at approximately $2,222,000. Capstone Investment Advisors LLC bought a new stake in Cellebrite DI in the 1st quarter valued at approximately $870,000. Sei Investments Co. lifted its stake in Cellebrite DI by 44.7% in the 1st quarter. Sei Investments Co. now owns 121,166 shares of the company’s stock valued at $1,343,000 after acquiring an additional 37,408 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in Cellebrite DI by 7.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock valued at $56,446,000 after acquiring an additional 514,858 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in Cellebrite DI in the 1st quarter valued at approximately $862,000. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.