Cellebrite DI (NASDAQ:CLBT) Hits New 52-Week High Following Analyst Upgrade

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $21.00 to $28.00. Needham & Company LLC currently has a buy rating on the stock. Cellebrite DI traded as high as $23.50 and last traded at $24.13, with a volume of 2012 shares. The stock had previously closed at $23.14.

Several other equities analysts have also recently commented on the stock. Craig Hallum upped their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Cellebrite DI from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cellebrite DI presently has a consensus rating of "Buy" and an average target price of $21.57.

Institutional Investors Weigh In On Cellebrite DI

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

Cellebrite DI Stock Down 1.9 %

The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of -15.11, a price-to-earnings-growth ratio of 3.42 and a beta of 1.46. The stock's 50-day simple moving average is $21.06 and its 200 day simple moving average is $17.83.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. During the same period in the prior year, the company earned $0.09 EPS. Cellebrite DI's revenue for the quarter was up 27.0% on a year-over-year basis. As a group, equities research analysts anticipate that Cellebrite DI Ltd. 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.