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

Cellebrite DI (NASDAQ:CLBT) had its price target raised by research analysts at Craig Hallum from $23.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 26.65% from the company’s current price.

Several other equities analysts also recently weighed in on CLBT. JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America upped their target price on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Lake Street Capital boosted their price objective on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. TD Cowen lifted their target price 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 target price on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI currently has a consensus rating of “Buy” and a consensus price target of $20.29.

Cellebrite DI Price Performance

NASDAQ CLBT traded down $0.14 during trading hours on Thursday, reaching $18.95. 683,597 shares of the company’s stock traded hands, compared to its average volume of 1,141,803. Cellebrite DI has a 52-week low of $7.22 and a 52-week high of $21.00. The firm has a 50-day simple moving average of $17.55 and a 200 day simple moving average of $14.20. The firm has a market cap of $3.90 billion, a PE ratio of -12.23, a PEG ratio of 2.55 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The business had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $91.94 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Sell-side analysts forecast that Cellebrite DI will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLBT. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Cellebrite DI by 59.6% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after purchasing an additional 1,017 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Cellebrite DI by 1,583.8% in the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after acquiring an additional 4,118 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Cellebrite DI during the second quarter worth $71,000. nVerses Capital LLC purchased a new stake in shares of Cellebrite DI during the 2nd quarter valued at $103,000. Finally, Venturi Wealth Management LLC grew its stake in Cellebrite DI by 28.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock worth $152,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 45.88% of the company’s stock.

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.