Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $22.00 at JPMorgan Chase & Co.

Cellebrite DI (NASDAQ:CLBT) had its price target boosted by JPMorgan Chase & Co. from $21.00 to $22.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

CLBT has been the topic of a number of other reports. Lake Street Capital lifted 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 boosted their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Bank of America raised their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Craig Hallum raised their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.29.

Cellebrite DI Price Performance

NASDAQ:CLBT traded down $0.18 during trading hours on Thursday, reaching $18.61. The company’s stock had a trading volume of 847,646 shares, compared to its average volume of 1,145,753. The firm has a 50-day simple moving average of $17.59 and a 200-day simple moving average of $14.23. Cellebrite DI has a 1 year low of $7.22 and a 1 year high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a negative return on equity of 748.06% and a negative net margin of 82.28%. The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $91.94 million. During the same quarter in the prior year, the company posted $0.05 EPS. Cellebrite DI’s quarterly revenue was up 24.8% compared to the same quarter last year. Research analysts anticipate that Cellebrite DI will post 0.31 earnings per share for the current year.

Institutional Trading of Cellebrite DI

A number of hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new position in Cellebrite DI during the third quarter worth approximately $23,402,000. Pembroke Management LTD increased its position in Cellebrite DI by 104.9% during the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock worth $18,352,000 after purchasing an additional 786,310 shares in the last quarter. Acadian Asset Management LLC lifted its position in Cellebrite DI by 26.8% during the first quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after buying an additional 612,787 shares in the last quarter. Meitav Investment House Ltd. grew its stake in Cellebrite DI by 29.7% during the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after buying an additional 473,293 shares during the period. Finally, Ashford Capital Management Inc. increased its position in shares of Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock worth $20,401,000 after acquiring an additional 350,140 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

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.