Cellebrite DI Ltd. (NASDAQ:CLBT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have received a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.57.

Several analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, December 16th. TD Cowen upped their price objective on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Needham & Company LLC boosted their price target on Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Institutional Investors Weigh In On Cellebrite DI

A number of large investors have recently bought and sold shares of CLBT. Telemark Asset Management LLC acquired a new position in Cellebrite DI in the third quarter worth $6,736,000. Two Sigma Advisers LP raised its holdings in shares of Cellebrite DI by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock valued at $22,584,000 after buying an additional 120,000 shares during the last quarter. Scalar Gauge Management LLC lifted its position in Cellebrite DI by 15.2% during the 2nd quarter. Scalar Gauge Management LLC now owns 453,554 shares of the company’s stock worth $5,420,000 after buying an additional 60,000 shares in the last quarter. Connors Investor Services Inc. bought a new stake in Cellebrite DI during the 2nd quarter worth about $1,803,000. Finally, State Street Corp increased its position in Cellebrite DI by 7.3% in the 3rd quarter. State Street Corp now owns 443,700 shares of the company’s stock valued at $7,472,000 after acquiring an additional 30,052 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Stock Down 1.2 %

Shares of CLBT opened at $21.57 on Tuesday. The stock’s 50-day moving average price is $20.39 and its 200 day moving average price is $17.23. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -13.92, a P/E/G ratio of 2.71 and a beta of 1.46. Cellebrite DI has a 12-month low of $7.91 and a 12-month high of $22.91.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $102.06 million. During the same period in the previous year, the business posted $0.09 earnings per share. Cellebrite DI’s quarterly revenue was up 27.0% on a year-over-year basis. Equities research analysts expect that Cellebrite DI will post 0.32 EPS for the current year.

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.