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

Cellebrite DI (NASDAQ:CLBT) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.72% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CLBT. Needham & Company LLC lifted their price target on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum raised their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, TD Cowen boosted their price target on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.57.

Cellebrite DI Stock Performance

Cellebrite DI stock opened at $19.88 on Monday. Cellebrite DI has a fifty-two week low of $7.91 and a fifty-two week high of $21.72. The stock’s 50 day simple moving average is $18.93 and its two-hundred day simple moving average is $15.82. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of -12.83, a PEG ratio of 2.71 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $106.90 million for the quarter, compared to analyst estimates 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 revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, analysts predict that Cellebrite DI will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC purchased a new position in Cellebrite DI in the 3rd quarter worth about $11,523,000. Tidal Investments LLC grew its stake in shares of Cellebrite DI by 59.3% in the third quarter. Tidal Investments LLC now owns 104,478 shares of the company’s stock worth $1,759,000 after acquiring an additional 38,887 shares during the period. Barclays PLC raised its holdings in shares of Cellebrite DI by 29.1% during the third quarter. Barclays PLC now owns 263,657 shares of the company’s stock valued at $4,439,000 after purchasing an additional 59,395 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Cellebrite DI during the third quarter valued at approximately $4,936,000. Finally, Y Intercept Hong Kong Ltd lifted its position in Cellebrite DI by 35.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 19,510 shares of the company’s stock valued at $329,000 after purchasing an additional 5,113 shares during the period. 45.88% of the stock is owned by institutional investors.

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.