Cellebrite DI Ltd. (NASDAQ:CLBT) Receives $23.43 Average Price Target from Brokerages

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) has been given an average recommendation of "Buy" by the seven brokerages that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $23.43.

Several equities analysts recently weighed in on the stock. Lake Street Capital increased their price target on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Cellebrite DI in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on Cellebrite DI from $24.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th.

Institutional Trading of Cellebrite DI

A number of hedge funds and other institutional investors have recently made changes to their positions in CLBT. Gen Wealth Partners Inc bought a new stake in shares of Cellebrite DI during the fourth quarter valued at about $85,000. NewEdge Advisors LLC lifted its stake in Cellebrite DI by 600.7% in the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock worth $86,000 after purchasing an additional 3,352 shares in the last quarter. R Squared Ltd purchased a new position in shares of Cellebrite DI during the 4th quarter valued at $100,000. Polen Capital Management LLC bought a new position in shares of Cellebrite DI in the fourth quarter worth $222,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Cellebrite DI in the fourth quarter worth $234,000. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Price Performance

Shares of CLBT stock traded down $0.71 on Thursday, hitting $18.19. The stock had a trading volume of 798,384 shares, compared to its average volume of 1,407,851. Cellebrite DI has a 12-month low of $10.25 and a 12-month high of $26.30. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -13.09, a price-to-earnings-growth ratio of 4.27 and a beta of 1.44. The business has a 50 day moving average of $18.86 and a 200 day moving average of $20.11.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. As a group, research analysts expect that Cellebrite DI will post 0.3 earnings per share for the current fiscal 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.