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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.42.

A number of brokerages have recently commented on CLBT. Needham & Company LLC boosted their price objective on Cellebrite DI from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Craig Hallum lifted their price objective on shares of Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. William Blair raised Cellebrite DI from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 13th. Lake Street Capital began coverage on Cellebrite DI in a report on Friday, April 19th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Bank of America upped their price target on Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, April 1st.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds have recently modified their holdings of the business. IGP Investments G.P.L.P LP purchased a new position in Cellebrite DI during the 4th quarter worth $182,619,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Cellebrite DI by 7.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock worth $56,446,000 after buying an additional 514,858 shares during the last quarter. Crosslink Capital Inc. increased its position in Cellebrite DI by 1.4% in the 4th quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock valued at $28,063,000 after acquiring an additional 44,520 shares during the period. Voss Capital LLC raised its stake in Cellebrite DI by 207.7% during the 4th quarter. Voss Capital LLC now owns 1,835,000 shares of the company’s stock valued at $15,891,000 after acquiring an additional 1,238,580 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Cellebrite DI by 295.6% during the 3rd quarter. Acadian Asset Management LLC now owns 1,646,480 shares of the company’s stock worth $12,563,000 after acquiring an additional 1,230,244 shares during the period. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Cellebrite DI Stock Performance

NASDAQ CLBT opened at $11.07 on Thursday. Cellebrite DI has a one year low of $5.22 and a one year high of $12.50. The firm has a 50 day simple moving average of $11.18 and a 200-day simple moving average of $9.53. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -25.74, a PEG ratio of 1.89 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $93.01 million during the quarter, compared to the consensus estimate of $85.43 million. Cellebrite DI had a negative net margin of 24.94% and a positive return on equity of 173.14%. Equities analysts predict that Cellebrite DI will post 0.32 EPS for the current fiscal 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.