Lake Street Capital Begins Coverage on Cellebrite DI (NASDAQ:CLBT)

Research analysts at Lake Street Capital began coverage on shares of Cellebrite DI (NASDAQ:CLBT) in a report released on Friday, Benzinga reports. The firm set a “buy” rating and a $13.00 price target on the stock. Lake Street Capital’s price target would suggest a potential upside of 23.81% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. 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 report on Monday, April 1st. Bank of America lifted their target price on Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC lifted their target price on Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, William Blair raised Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Cellebrite DI presently has an average rating of “Buy” and a consensus target price of $12.42.

Cellebrite DI Trading Up 1.2 %

Cellebrite DI stock traded up $0.12 during mid-day trading on Friday, hitting $10.50. The stock had a trading volume of 120,129 shares, compared to its average volume of 947,053. The stock has a 50-day simple moving average of $11.21 and a two-hundred day simple moving average of $9.17. The stock has a market capitalization of $2.16 billion, a PE ratio of -24.44, a P/E/G ratio of 1.83 and a beta of 1.53. Cellebrite DI has a 12 month low of $5.22 and a 12 month high of $12.50.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, February 15th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $93.01 million for the quarter, compared to analysts’ expectations of $85.43 million. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. Sell-side analysts expect that Cellebrite DI will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC bought a new position in Cellebrite DI in the first quarter valued at approximately $657,000. Quadrature Capital Ltd grew its stake in Cellebrite DI by 96.5% in the fourth quarter. Quadrature Capital Ltd now owns 256,402 shares of the company’s stock valued at $2,222,000 after purchasing an additional 125,913 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Cellebrite DI in the fourth quarter valued at approximately $131,000. Goldman Sachs Group Inc. grew its stake in Cellebrite DI by 206.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 295,774 shares of the company’s stock valued at $2,561,000 after purchasing an additional 199,107 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Cellebrite DI during the 4th quarter worth approximately $36,000. 45.88% of the stock is currently owned by institutional investors.

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.