Cellebrite DI Ltd. (NASDAQ:CLBT) Receives Average Rating of “Buy” from Brokerages

Cellebrite DI Ltd. (NASDAQ:CLBT) has received an average rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.17.

Several brokerages have weighed in on CLBT. Craig Hallum lifted their target price on Cellebrite DI from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, April 1st. William Blair upgraded Cellebrite DI from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their target price on Cellebrite DI from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Lake Street Capital began coverage on Cellebrite DI in a report on Friday, April 19th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Bank of America raised their price target on Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, April 1st.

Hedge Funds Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently bought and sold shares of CLBT. Barclays PLC raised its holdings in Cellebrite DI by 14.5% during the third quarter. Barclays PLC now owns 15,608 shares of the company’s stock worth $119,000 after purchasing an additional 1,982 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Cellebrite DI by 166.0% during the third quarter. New York State Common Retirement Fund now owns 15,440 shares of the company’s stock worth $118,000 after purchasing an additional 9,635 shares during the last quarter. Swiss National Bank raised its holdings in Cellebrite DI by 30.7% during the third quarter. Swiss National Bank now owns 107,800 shares of the company’s stock worth $825,000 after purchasing an additional 25,300 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Cellebrite DI by 207.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,266 shares of the company’s stock worth $377,000 after acquiring an additional 33,225 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Cellebrite DI in the third quarter worth $314,000. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Performance

NASDAQ:CLBT opened at $11.86 on Friday. The stock’s 50 day moving average price is $11.27 and its 200 day moving average price is $10.44. Cellebrite DI has a 52-week low of $6.36 and a 52-week high of $12.67.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. The firm had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.34 million. During the same quarter last year, the business posted $0.03 EPS. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts predict that Cellebrite DI will post 0.34 EPS for the current year.

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.