Cellebrite DI (NASDAQ:CLBT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cellebrite DI (NASDAQ:CLBT - Free Report) had its target price upped by JPMorgan Chase & Co. from $22.00 to $24.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on the stock. TD Cowen raised their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Needham & Company LLC increased their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Craig Hallum boosted their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.57.

Cellebrite DI Price Performance

NASDAQ:CLBT traded up $0.41 during trading hours on Monday, reaching $20.29. 571,074 shares of the stock were exchanged, compared to its average volume of 1,178,313. Cellebrite DI has a twelve month low of $7.91 and a twelve month high of $21.72. The stock has a market cap of $4.18 billion, a PE ratio of -12.83, a PEG ratio of 2.71 and a beta of 1.51. The firm has a 50 day moving average of $18.93 and a 200 day moving average of $15.82.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 27.0% compared to the same quarter last year. Equities research analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLBT. Quarry LP bought a new stake in Cellebrite DI in the third quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cellebrite DI by 59.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company's stock valued at $33,000 after buying an additional 1,017 shares during the period. Advisors Asset Management Inc. increased its position in Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company's stock valued at $52,000 after buying an additional 1,742 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Cellebrite DI during the 2nd quarter worth approximately $71,000. Finally, Pathway Financial Advisers LLC boosted its holdings in Cellebrite DI by 1,583.8% in the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company's stock worth $74,000 after acquiring an additional 4,118 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

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.