Cellebrite DI Ltd. (NASDAQ:CLBT) Receives Average Recommendation of "Buy" from Brokerages

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) have been given a consensus rating of "Buy" by the eight ratings firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.29.

Several research analysts have commented on CLBT shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cellebrite DI from $15.00 to $18.00 and gave the company a "buy" rating in a report on Friday, August 16th. Needham & Company LLC boosted their price target on Cellebrite DI from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Lake Street Capital increased their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a "buy" rating in a report on Friday, August 16th. Bank of America increased their target price on shares of Cellebrite DI from $13.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Finally, TD Cowen boosted their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, September 23rd.

Cellebrite DI Stock Down 0.8 %

Shares of CLBT stock traded down $0.16 during trading hours on Friday, reaching $19.88. The company's stock had a trading volume of 664,184 shares, compared to its average volume of 1,180,833. Cellebrite DI has a fifty-two week low of $7.91 and a fifty-two week high of $21.72. The firm's 50 day simple moving average is $18.88 and its 200-day simple moving average is $15.69. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -12.83, a PEG ratio of 2.78 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping 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 company's revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Sell-side analysts predict that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in Cellebrite DI by 136.3% during the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company's stock valued at $94,586,000 after purchasing an additional 3,239,307 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Cellebrite DI during the third quarter worth $23,402,000. Pembroke Management LTD raised its position in shares of Cellebrite DI by 104.9% during the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company's stock worth $18,352,000 after purchasing an additional 786,310 shares during the period. Lord Abbett & CO. LLC bought a new stake in Cellebrite DI in the 3rd quarter valued at about $11,523,000. Finally, Summit Partners Public Asset Management LLC acquired a new position in Cellebrite DI during the 3rd quarter worth $9,274,000. 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.