Cellebrite DI (NASDAQ:CLBT) Trading Down 7.2% on Disappointing Earnings

Cellebrite DI Ltd. (NASDAQ:CLBT)’s share price traded down 7.2% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $21.80 and last traded at $23.13. 1,094,046 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,757,342 shares. The stock had previously closed at $24.92.

The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%.

Analyst Ratings Changes

CLBT has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price objective on Cellebrite DI from $21.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Craig Hallum upped their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.14.

Institutional Trading of Cellebrite DI

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Cellebrite DI by 89.1% in the 4th quarter. FMR LLC now owns 10,621,344 shares of the company’s stock valued at $233,988,000 after purchasing an additional 5,004,587 shares in the last quarter. True Wind Capital Management L.P. increased its holdings in Cellebrite DI by 18.2% during the fourth quarter. True Wind Capital Management L.P. now owns 13,861,007 shares of the company’s stock valued at $305,358,000 after buying an additional 2,130,386 shares during the period. Principal Financial Group Inc. bought a new position in Cellebrite DI in the third quarter worth approximately $23,402,000. Lord Abbett & CO. LLC bought a new position in Cellebrite DI in the third quarter worth approximately $11,523,000. Finally, Pertento Partners LLP lifted its holdings in Cellebrite DI by 26.7% during the fourth quarter. Pertento Partners LLP now owns 2,975,374 shares of the company’s stock worth $65,547,000 after buying an additional 626,373 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Trading Down 7.3 %

The firm has a 50-day simple moving average of $22.57 and a 200-day simple moving average of $19.09. The firm has a market cap of $4.76 billion, a P/E ratio of -14.91, a PEG ratio of 3.72 and a beta of 1.47.

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.