Cellebrite DI (NASDAQ:CLBT) Hits New 52-Week High - Here's What Happened

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $24.85 and last traded at $24.88, with a volume of 1113286 shares. The stock had previously closed at $24.04.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CLBT. Craig Hallum lifted 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. boosted their target price on Cellebrite DI from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Finally, Needham & Company LLC raised their price target on Cellebrite DI from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $21.57.

Cellebrite DI Stock Up 0.8 %

The stock's 50-day moving average price is $22.21 and its 200 day moving average price is $18.73. The company has a market cap of $5.23 billion, a P/E ratio of -16.39, a price-to-earnings-growth ratio of 3.55 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $106.90 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. Analysts expect that Cellebrite DI Ltd. 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. Strategic Advisors LLC acquired a new position in shares of Cellebrite DI during the third quarter worth approximately $474,000. Juncture Wealth Strategies LLC raised its stake in Cellebrite DI by 42.2% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 59,498 shares of the company's stock valued at $1,002,000 after purchasing an additional 17,652 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Cellebrite DI by 1,583.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company's stock valued at $74,000 after purchasing an additional 4,118 shares during the period. Tower View Wealth Management LLC grew its position in Cellebrite DI by 1.2% in the 3rd quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company's stock worth $2,200,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its holdings in shares of Cellebrite DI by 29.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company's stock worth $34,797,000 after purchasing an additional 473,293 shares during the period. Institutional investors and hedge funds own 45.88% of the company's stock.

Cellebrite DI Company Profile

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.