Cellebrite DI Ltd. (NASDAQ:CLBT) Given Consensus Recommendation of “Buy” by Brokerages

Cellebrite DI Ltd. (NASDAQ:CLBT) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.57.

Several brokerages have issued reports on CLBT. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Bank of America increased their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Craig Hallum boosted their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC boosted their price objective on shares of 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 boosted their target price on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th.

Cellebrite DI Stock Down 2.1 %

CLBT stock opened at $16.85 on Friday. The business’s 50-day simple moving average is $15.61 and its 200 day simple moving average is $12.85. The company has a market cap of $3.47 billion, a PE ratio of -29.05, a price-to-earnings-growth ratio of 2.32 and a beta of 1.52. Cellebrite DI has a twelve month low of $6.36 and a twelve month high of $17.82.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLBT. Parallel Advisors LLC lifted its position in shares of Cellebrite DI by 75.0% in the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after purchasing an additional 1,500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after purchasing an additional 1,017 shares during the last quarter. Quarry LP bought a new position in Cellebrite DI in the fourth quarter valued at approximately $36,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Cellebrite DI during the 2nd quarter worth approximately $71,000. Finally, nVerses Capital LLC bought a new stake in shares of Cellebrite DI during the 2nd quarter worth approximately $103,000. 45.88% of the stock is 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.