Cellebrite DI (NASDAQ:CLBT) Hits New 52-Week High - Time to Buy?

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $19.30 and last traded at $18.97, with a volume of 67125 shares. The stock had previously closed at $18.55.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CLBT. Bank of America boosted their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Craig Hallum upped their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Needham & Company LLC upped their price target on shares of Cellebrite DI from $14.00 to $17.00 and gave the company a "buy" rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $18.57.

Cellebrite DI Stock Performance

The stock's 50-day simple moving average is $17.47 and its 200-day simple moving average is $14.10. The firm has a market capitalization of $3.94 billion, a PE ratio of -36.43, a P/E/G ratio of 2.55 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last released its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The company's revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. As a group, analysts predict that Cellebrite DI Ltd. will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Cellebrite DI

A number of hedge funds and other institutional investors have recently modified their holdings of CLBT. Venturi Wealth Management LLC boosted its stake in Cellebrite DI by 28.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company's stock worth $152,000 after purchasing an additional 2,000 shares in the last quarter. Meritage Portfolio Management boosted its stake in Cellebrite DI by 12.0% in the 3rd quarter. Meritage Portfolio Management now owns 27,831 shares of the company's stock worth $469,000 after purchasing an additional 2,973 shares in the last quarter. Principal Financial Group Inc. bought a new position in Cellebrite DI in the 3rd quarter worth about $23,402,000. Harbor Capital Advisors Inc. boosted its stake in Cellebrite DI by 96.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 95,351 shares of the company's stock worth $1,606,000 after purchasing an additional 46,727 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Cellebrite DI by 8.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,155 shares of the company's stock worth $861,000 after purchasing an additional 3,912 shares in the last quarter. 45.88% of the stock is 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.