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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been given an average rating of “Buy” by the eight research firms that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have covered the stock in the last year is $20.57.

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

Hedge Funds Weigh In On Cellebrite DI

Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. lifted its holdings 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 purchasing an additional 1,017 shares in the last quarter. Tower View Wealth Management LLC lifted its stake in Cellebrite DI by 1.2% in the 3rd quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock valued at $2,200,000 after buying an additional 1,500 shares in the last quarter. Quarry LP acquired a new stake in Cellebrite DI during the 3rd quarter valued at $27,000. Advisors Asset Management Inc. increased its position in Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after buying an additional 1,742 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Cellebrite DI by 28.6% in the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock worth $152,000 after acquiring an additional 2,000 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock opened at $21.83 on Tuesday. Cellebrite DI has a one year low of $7.91 and a one year high of $22.91. The company has a market cap of $4.50 billion, a P/E ratio of -14.08, a PEG ratio of 2.71 and a beta of 1.46. The firm has a fifty day moving average of $20.33 and a two-hundred day moving average of $17.12.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) 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 negative net margin of 82.28% and a positive return on equity of 122.59%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. As a group, equities analysts predict that Cellebrite DI will post 0.32 earnings per share for the current 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.