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

Cellebrite DI (NASDAQ:CLBT - Free Report) had its price objective increased by JPMorgan Chase & Co. from $24.00 to $28.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also commented on CLBT. Craig Hallum raised their price target 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. Needham & Company LLC raised their target price on shares of Cellebrite DI from $21.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $23.43.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded down $1.17 during trading on Tuesday, reaching $20.53. The company had a trading volume of 2,252,386 shares, compared to its average volume of 1,863,141. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -13.22, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47. The firm's fifty day moving average is $22.58 and its 200-day moving average is $19.10. Cellebrite DI has a fifty-two week low of $9.96 and a fifty-two week high of $26.30.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. On average, research analysts anticipate that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Cellebrite DI in the 3rd quarter worth approximately $27,000. Advisors Asset Management Inc. raised its holdings in Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company's stock worth $52,000 after acquiring an additional 1,742 shares during the period. Pathway Financial Advisers LLC grew its position 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 worth $74,000 after purchasing an additional 4,118 shares during the last quarter. NewEdge Advisors LLC grew its position in Cellebrite DI by 600.7% in the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock worth $86,000 after purchasing an additional 3,352 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Cellebrite DI in the 4th quarter worth $100,000. Institutional investors and hedge funds own 45.88% of the company's stock.

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.