Lake Street Capital Initiates Coverage on Cellebrite DI (NASDAQ:CLBT)

Investment analysts at Lake Street Capital initiated coverage on shares of Cellebrite DI (NASDAQ:CLBT) in a note issued to investors on Friday, Benzinga reports. The firm set a “buy” rating and a $13.00 price target on the stock. Lake Street Capital’s price target would suggest a potential upside of 24.16% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Craig Hallum lifted their price target on shares of Cellebrite DI from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, April 1st. William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 13th. Needham & Company LLC lifted their price target on shares of Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Bank of America boosted their price objective on shares of Cellebrite DI from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.42.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT opened at $10.47 on Friday. The stock has a market cap of $2.15 billion, a P/E ratio of -24.35, a P/E/G ratio of 1.83 and a beta of 1.53. The firm has a 50 day moving average price of $11.23 and a 200 day moving average price of $9.20. Cellebrite DI has a 52-week low of $5.22 and a 52-week high of $12.50.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a negative net margin of 24.94% and a positive return on equity of 173.14%. The firm had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $85.43 million. Analysts predict that Cellebrite DI will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Cellebrite DI

A number of institutional investors have recently made changes to their positions in CLBT. UBS Group AG bought a new stake in Cellebrite DI during the first quarter worth $26,000. Virtus Fund Advisers LLC bought a new stake in Cellebrite DI during the fourth quarter worth $28,000. Parallel Advisors LLC raised its position in Cellebrite DI by 75.0% during the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after acquiring an additional 1,500 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Cellebrite DI during the fourth quarter worth $32,000. Finally, Steward Partners Investment Advisory LLC raised its position in Cellebrite DI by 81.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,784 shares of the company’s stock worth $34,000 after acquiring an additional 3,494 shares in the last quarter. 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.