Brokerages Set Cellebrite DI Ltd. (NASDAQ:CLBT) Price Target at $24.00

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.00.

Several research analysts have recently issued reports on CLBT shares. JPMorgan Chase & Co. upped their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Wall Street Zen lowered Cellebrite DI from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America increased their target price on Cellebrite DI from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Needham & Company LLC lifted their price target on Cellebrite DI from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Lake Street Capital upped their price objective on Cellebrite DI from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 13th.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of Cellebrite DI by 58.6% during the third quarter. Invesco Ltd. now owns 5,560,196 shares of the company’s stock worth $103,030,000 after purchasing an additional 2,054,644 shares during the period. Voss Capital LP raised its position in Cellebrite DI by 34.0% during the 2nd quarter. Voss Capital LP now owns 5,150,000 shares of the company’s stock worth $82,400,000 after purchasing an additional 1,306,398 shares during the last quarter. Pertento Partners LLP lifted its holdings in Cellebrite DI by 57.8% during the 3rd quarter. Pertento Partners LLP now owns 4,648,215 shares of the company’s stock worth $86,131,000 after buying an additional 1,702,574 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Cellebrite DI by 17.1% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,913,014 shares of the company’s stock worth $62,608,000 after buying an additional 570,000 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new stake in shares of Cellebrite DI in the 3rd quarter valued at about $55,999,000. Institutional investors own 45.88% of the company’s stock.

Cellebrite DI Trading Up 0.3%

CLBT stock opened at $15.87 on Friday. The firm has a 50-day moving average price of $17.85 and a 200-day moving average price of $16.96. Cellebrite DI has a 12 month low of $13.10 and a 12 month high of $26.30. The stock has a market capitalization of $3.80 billion, a P/E ratio of 51.19, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.05). The company had revenue of $126.03 million for the quarter, compared to the consensus estimate of $122.98 million. Cellebrite DI had a net margin of 16.74% and a return on equity of 20.81%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, equities analysts predict that Cellebrite DI will post 0.3 EPS for the current fiscal year.

About Cellebrite DI

Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company’s technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.

The company’s flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.