Cellebrite DI (NASDAQ:CLBT) Coverage Initiated at Lake Street Capital

Investment analysts at Lake Street Capital assumed coverage on shares of Cellebrite DI (NASDAQ:CLBT) in a report released on Friday, Benzinga reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Lake Street Capital’s price objective would suggest a potential upside of 23.81% from the company’s current price.

A number of other research firms have also recently weighed in on CLBT. Needham & Company LLC lifted their target price 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. 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 report on Monday, April 1st. William Blair upgraded shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 13th. Finally, Bank of America lifted their price target on shares of Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, April 1st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $12.42.

Cellebrite DI Trading Up 1.2 %

Shares of CLBT traded up $0.12 during trading hours on Friday, reaching $10.50. 120,129 shares of the stock traded hands, compared to its average volume of 947,053. Cellebrite DI has a 52-week low of $5.22 and a 52-week high of $12.50. The company’s 50-day moving average price is $11.21 and its two-hundred day moving average price is $9.17. The company has a market cap of $2.16 billion, a P/E ratio of -24.44, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, February 15th. The company reported $0.08 earnings per share 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 company had revenue of $93.01 million for the quarter, compared to analysts’ expectations of $85.43 million. On average, research analysts forecast that Cellebrite DI will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG purchased a new stake in Cellebrite DI in the 1st quarter valued at about $26,000. Virtus Fund Advisers LLC purchased a new stake in Cellebrite DI in the 4th quarter valued at about $28,000. Parallel Advisors LLC raised its holdings in shares of Cellebrite DI by 75.0% in the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after purchasing an additional 1,500 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Cellebrite DI in the 4th quarter worth approximately $32,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Cellebrite DI by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,784 shares of the company’s stock worth $34,000 after purchasing an additional 3,494 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.