Analysts Set Cellebrite DI Ltd. (NASDAQ:CLBT) PT at $20.57

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) has received an average recommendation of "Buy" from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.57.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CLBT. JPMorgan Chase & Co. raised its position in Cellebrite DI by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company's stock valued at $7,202,000 after purchasing an additional 75,092 shares during the period. Principal Financial Group Inc. purchased a new position in Cellebrite DI during the third quarter worth $23,402,000. Lord Abbett & CO. LLC bought a new position in Cellebrite DI during the third quarter valued at $11,523,000. Tidal Investments LLC raised its stake in shares of Cellebrite DI by 59.3% in the third quarter. Tidal Investments LLC now owns 104,478 shares of the company's stock valued at $1,759,000 after acquiring an additional 38,887 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Cellebrite DI by 29.1% in the 3rd quarter. Barclays PLC now owns 263,657 shares of the company's stock worth $4,439,000 after acquiring an additional 59,395 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Stock Down 1.3 %

Shares of Cellebrite DI stock traded down $0.28 during trading hours on Tuesday, reaching $21.96. 807,100 shares of the stock traded hands, compared to its average volume of 719,966. The company has a 50 day moving average price of $20.12 and a 200 day moving average price of $16.99. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -14.17, a P/E/G ratio of 2.71 and a beta of 1.46. Cellebrite DI has a one year low of $7.91 and a one year high of $22.91.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly 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. The business had revenue of $106.90 million for the quarter, compared to analysts' expectations of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The company's revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. Sell-side analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current year.

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.