Cellebrite DI (NASDAQ:CLBT) Hits New 52-Week High at $17.36

Cellebrite DI Ltd. (NASDAQ:CLBT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.36 and last traded at $17.32, with a volume of 1256730 shares. The stock had previously closed at $16.77.

Analysts Set New Price Targets

CLBT has been the topic of several recent analyst reports. Needham & Company LLC raised their target price on Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Craig Hallum raised their target price on Cellebrite DI from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Bank of America raised 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. Finally, Lake Street Capital raised their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.33.

Cellebrite DI Stock Down 0.3 %

The company’s fifty day simple moving average is $13.52 and its 200 day simple moving average is $12.02. The firm has a market capitalization of $3.49 billion, a PE ratio of -29.24, a price-to-earnings-growth ratio of 1.76 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The firm had revenue of $95.70 million during the quarter, compared to analyst estimates of $91.94 million. During the same period last year, the business earned $0.05 earnings per share. The business’s revenue was up 24.8% on a year-over-year basis. Equities research analysts forecast that Cellebrite DI Ltd. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently made changes to their positions in CLBT. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cellebrite DI by 78.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,862 shares of the company’s stock valued at $233,000 after purchasing an additional 11,771 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Cellebrite DI by 36.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 67,385 shares of the company’s stock worth $584,000 after acquiring an additional 18,119 shares during the last quarter. Josh Arnold Investment Consultant LLC purchased a new position in Cellebrite DI in the 4th quarter worth approximately $346,000. IGP Investments G.P.L.P LP purchased a new position in Cellebrite DI in the 4th quarter worth approximately $182,619,000. Finally, Trexquant Investment LP raised its holdings in Cellebrite DI by 297.1% in the 4th quarter. Trexquant Investment LP now owns 261,749 shares of the company’s stock worth $2,267,000 after acquiring an additional 195,841 shares during the last quarter. 45.88% of the stock is currently 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.