Cellebrite DI Ltd. (NASDAQ:CLBT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have received an average recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $20.57.

Several research analysts have weighed in on CLBT shares. Craig Hallum upped their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC increased their price objective on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. TD Cowen upped their target price on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, December 16th.

Cellebrite DI Stock Down 1.2 %

CLBT opened at $21.57 on Tuesday. The firm has a market capitalization of $4.44 billion, a P/E ratio of -13.92, a PEG ratio of 2.71 and a beta of 1.46. The stock has a fifty day moving average of $20.39 and a 200-day moving average of $17.23. Cellebrite DI has a 12-month low of $7.91 and a 12-month high of $22.91.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The firm had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. During the same period in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, analysts expect that Cellebrite DI will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its position in Cellebrite DI by 65.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock worth $3,473,000 after purchasing an additional 62,320 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Cellebrite DI by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock worth $7,202,000 after buying an additional 75,092 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Cellebrite DI during the 3rd quarter worth $23,402,000. Lord Abbett & CO. LLC acquired a new position in Cellebrite DI in the 3rd quarter valued at $11,523,000. Finally, Tidal Investments LLC raised its holdings in Cellebrite DI by 59.3% in the 3rd quarter. Tidal Investments LLC now owns 104,478 shares of the company’s stock worth $1,759,000 after acquiring an additional 38,887 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

About Cellebrite DI

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.