Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $24.00

Cellebrite DI (NASDAQ:CLBT) had its price objective boosted by Craig Hallum from $23.00 to $24.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on CLBT. Lake Street Capital raised their price target on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Bank of America raised their target price on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC raised their price objective on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TD Cowen boosted their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.29.

Cellebrite DI Price Performance

CLBT opened at $18.61 on Thursday. The business has a fifty day moving average price of $17.62 and a 200 day moving average price of $14.31. Cellebrite DI has a 12 month low of $7.22 and a 12 month high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Research analysts anticipate that Cellebrite DI will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in Cellebrite DI during the 3rd quarter worth $23,402,000. Pembroke Management LTD raised its holdings in shares of Cellebrite DI by 104.9% in the second quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock valued at $18,352,000 after buying an additional 786,310 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Cellebrite DI by 26.8% during the first quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock worth $32,062,000 after buying an additional 612,787 shares during the period. Meitav Investment House Ltd. boosted its stake in shares of Cellebrite DI by 29.7% during the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after buying an additional 473,293 shares during the period. Finally, Ashford Capital Management Inc. grew its holdings in shares of Cellebrite DI by 23.5% during the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock worth $20,401,000 after buying an additional 350,140 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.