Brokerages Set Cellebrite DI Ltd. (NASDAQ:CLBT) Price Target at $21.57

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) have been given an average recommendation of "Buy" by the eight brokerages that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $21.57.

Several research analysts have recently weighed in on the company. Craig Hallum boosted their price target on Cellebrite DI from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Cellebrite DI from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Finally, Needham & Company LLC lifted their price target on shares of Cellebrite DI from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd.

Cellebrite DI Stock Performance

Shares of CLBT traded up $0.79 during trading hours on Friday, hitting $25.46. The company had a trading volume of 2,996,614 shares, compared to its average volume of 1,638,140. Cellebrite DI has a 52-week low of $8.91 and a 52-week high of $25.95. The firm has a fifty day moving average price of $21.87 and a 200-day moving average price of $18.54. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of -16.43, a P/E/G ratio of 3.55 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The firm 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 business's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. Research analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in Cellebrite DI by 136.3% in the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company's stock worth $94,586,000 after purchasing an additional 3,239,307 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Cellebrite DI during the third quarter valued at approximately $23,402,000. Lord Abbett & CO. LLC bought a new stake in shares of Cellebrite DI during the third quarter valued at approximately $11,523,000. Summit Partners Public Asset Management LLC purchased a new position in shares of Cellebrite DI in the third quarter worth $9,274,000. Finally, Meitav Investment House Ltd. boosted its position in shares of Cellebrite DI by 29.7% during the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company's stock worth $34,797,000 after acquiring an additional 473,293 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

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.