Cellebrite DI (NASDAQ:CLBT) Announces Earnings Results

Cellebrite DI (NASDAQ:CLBT) posted its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02, Briefing.com reports. The firm had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.34 million. Cellebrite DI had a positive return on equity of 220.14% and a negative net margin of 32.57%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share.

Cellebrite DI Price Performance

Shares of CLBT opened at $11.10 on Friday. Cellebrite DI has a 1-year low of $5.45 and a 1-year high of $12.50. The company has a market capitalization of $2.29 billion, a P/E ratio of -19.14, a P/E/G ratio of 1.93 and a beta of 1.51. The firm’s 50 day simple moving average is $11.11 and its 200 day simple moving average is $9.91.

Analysts Set New Price Targets

Several research analysts have commented on CLBT shares. Craig Hallum raised their target price on Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Lake Street Capital started coverage on shares of Cellebrite DI in a research report on Friday, April 19th. They issued a “buy” rating and a $13.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of Cellebrite DI from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Cellebrite DI from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI has an average rating of “Buy” and a consensus price target of $13.17.

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.