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

Cellebrite DI Ltd. (NASDAQ:CLBT) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.29.

Several analysts have recently issued reports on CLBT shares. JPMorgan Chase & Co. increased their price objective on Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price target on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Needham & Company LLC boosted their price objective on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum upped their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Bank of America lifted their price target on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th.

Hedge Funds Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Cellebrite DI by 136.3% during the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after purchasing an additional 3,239,307 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Cellebrite DI in the 3rd quarter valued at $23,402,000. Pembroke Management LTD raised its stake in Cellebrite DI by 104.9% during the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock worth $18,352,000 after acquiring an additional 786,310 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Cellebrite DI during the 3rd quarter worth $9,274,000. Finally, Meitav Investment House Ltd. lifted its position in Cellebrite DI by 29.7% in the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after acquiring an additional 473,293 shares during the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Performance

Shares of CLBT opened at $17.70 on Monday. The company’s 50-day simple moving average is $17.74 and its 200-day simple moving average is $14.57. Cellebrite DI has a 1 year low of $7.64 and a 1 year high of $21.00. The stock has a market capitalization of $3.64 billion, a PE ratio of -11.42, a P/E/G ratio of 2.41 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The firm had revenue of $106.90 million for the quarter, compared to the consensus estimate of $102.06 million. During the same period in the prior year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, sell-side 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.