Cellebrite DI (NASDAQ:CLBT) Sets New 52-Week High – Here’s What Happened

Cellebrite DI Ltd. (NASDAQ:CLBT) hit a new 52-week high on Tuesday . The stock traded as high as $24.32 and last traded at $24.19, with a volume of 1046492 shares traded. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

CLBT has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Craig Hallum boosted their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC lifted their price target on shares of Cellebrite DI from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $21.57.

Cellebrite DI Stock Performance

The company has a market capitalization of $4.98 billion, a PE ratio of -15.59, a PEG ratio of 3.52 and a beta of 1.46. The stock’s 50 day moving average is $21.51 and its 200 day moving average is $18.21.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS 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 for the quarter, compared to analysts’ expectations of $102.06 million. During the same period last year, the business earned $0.09 earnings per share. The business’s quarterly revenue was up 27.0% on a year-over-year basis. On average, equities research analysts forecast that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently modified their holdings of CLBT. Meritage Portfolio Management boosted its position in shares of Cellebrite DI by 7.4% during the fourth quarter. Meritage Portfolio Management now owns 29,901 shares of the company’s stock worth $659,000 after acquiring an additional 2,070 shares during the last quarter. Calamos Advisors LLC lifted its stake in Cellebrite DI by 198.3% in the fourth quarter. Calamos Advisors LLC now owns 106,979 shares of the company’s stock worth $2,357,000 after purchasing an additional 71,120 shares during the last quarter. R Squared Ltd purchased a new stake in Cellebrite DI in the fourth quarter worth $100,000. Blue Trust Inc. purchased a new position in Cellebrite DI during the 4th quarter worth $466,000. Finally, Juncture Wealth Strategies LLC lifted its holdings in Cellebrite DI by 0.8% during the fourth quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company’s stock worth $1,322,000 after buying an additional 505 shares during the period. 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.