Cellebrite DI (NASDAQ:CLBT) Sets New 52-Week High – Here’s What Happened

Cellebrite DI Ltd. (NASDAQ:CLBT)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $22.91 and last traded at $22.22, with a volume of 45847 shares trading hands. The stock had previously closed at $22.28.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Craig Hallum boosted their price target on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC boosted their target price on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI has an average rating of “Buy” and a consensus price target of $20.57.

Cellebrite DI Price Performance

The firm’s 50-day simple moving average is $20.68 and its two-hundred day simple moving average is $17.49.

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

Institutional Investors Weigh In On Cellebrite DI

Several large investors have recently bought and sold shares of CLBT. FMR LLC boosted its holdings in shares of Cellebrite DI by 136.3% in the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after buying an additional 3,239,307 shares during the period. Principal Financial Group Inc. bought a new position in shares of Cellebrite DI in the 3rd quarter valued at about $23,402,000. Lord Abbett & CO. LLC bought a new stake in Cellebrite DI in the third quarter valued at approximately $11,523,000. Summit Partners Public Asset Management LLC acquired a new stake in Cellebrite DI during the 3rd quarter valued at $9,274,000. Finally, Meitav Investment House Ltd. boosted its position 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 purchasing an additional 473,293 shares during the period. Institutional investors own 45.88% of the company’s stock.

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.