Cellebrite DI Ltd. (NASDAQ:CLBT) Receives Consensus Recommendation of “Buy” from Analysts

Cellebrite DI Ltd. (NASDAQ:CLBT) has earned an average recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.43.

A number of research analysts have commented on the stock. Lake Street Capital lifted their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Craig Hallum increased their price objective on Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of Cellebrite DI in a report on Friday, February 14th.

Institutional Trading of Cellebrite DI

Several hedge funds have recently modified their holdings of CLBT. Quarry LP purchased a new position in Cellebrite DI in the third quarter worth $27,000. Advisors Asset Management Inc. grew its stake in shares of Cellebrite DI by 130.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of 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 in the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at about $85,000. Finally, NewEdge Advisors LLC boosted its holdings in Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock worth $86,000 after buying an additional 3,352 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Down 1.7 %

Shares of NASDAQ CLBT opened at $18.03 on Wednesday. The business has a 50-day moving average price of $22.14 and a 200 day moving average price of $19.69. The stock has a market cap of $3.71 billion, a PE ratio of -12.97, a price-to-earnings-growth ratio of 4.27 and a beta of 1.47. Cellebrite DI has a 52-week low of $10.25 and a 52-week high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. Sell-side analysts anticipate that Cellebrite DI will post 0.3 earnings per share for the current year.

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.