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

Cellebrite DI (NASDAQ:CLBT) had its price objective hoisted by equities researchers at Craig Hallum from $23.00 to $24.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 26.65% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on CLBT. Lake Street Capital lifted their price target on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Needham & Company LLC increased their price target on Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America lifted their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their target price on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, TD Cowen upped 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 Monday, September 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.29.

Cellebrite DI Stock Performance

NASDAQ CLBT traded down $0.14 during trading hours on Thursday, hitting $18.95. 683,597 shares of the company’s stock were exchanged, compared to its average volume of 1,141,803. The firm has a market capitalization of $3.90 billion, a P/E ratio of -12.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50. The business’s 50 day moving average is $17.55 and its 200-day moving average is $14.20. Cellebrite DI has a 12-month low of $7.22 and a 12-month high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data 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. The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. As a group, equities research analysts anticipate that Cellebrite DI will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently bought and sold shares of CLBT. Empowered Funds LLC acquired a new stake in shares of Cellebrite DI in the third quarter valued at about $2,002,000. MQS Management LLC bought a new stake in shares of Cellebrite DI during the 3rd quarter worth $294,000. Venturi Wealth Management LLC grew its position in Cellebrite DI by 28.6% during the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $152,000 after buying an additional 2,000 shares during the period. Meritage Portfolio Management increased its position in Cellebrite DI by 12.0% in the third quarter. Meritage Portfolio Management now owns 27,831 shares of the company’s stock worth $469,000 after buying an additional 2,973 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Cellebrite DI during the 3rd quarter valued at approximately $23,402,000. 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.