Cellebrite DI (NASDAQ:CLBT) Hits New 1-Year High – Here’s What Happened

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) hit a new 52-week high on Tuesday . The company traded as high as $24.32 and last traded at $24.19, with a volume of 1046492 shares changing hands. The stock had previously closed at $23.00.

Wall Street Analyst Weigh In

Several research analysts recently commented on CLBT shares. Needham & Company LLC lifted their target price on shares of Cellebrite DI from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Craig Hallum upped their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $21.57.

Cellebrite DI Price Performance

The firm’s 50-day simple moving average is $21.61 and its 200 day simple moving average is $18.25. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -15.48, a P/E/G ratio of 3.52 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data 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 business 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%. Cellebrite DI’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, research analysts predict that Cellebrite DI Ltd. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Cellebrite DI by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock valued at $7,202,000 after purchasing an additional 75,092 shares during the period. Telemark Asset Management LLC bought a new stake in shares of Cellebrite DI in the 3rd quarter valued at about $6,736,000. Two Sigma Advisers LP increased its stake in shares of Cellebrite DI by 9.8% in the third quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock valued at $22,584,000 after buying an additional 120,000 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Cellebrite DI by 65.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock worth $3,473,000 after acquiring an additional 62,320 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Cellebrite DI by 7.3% in the third quarter. State Street Corp now owns 443,700 shares of the company’s stock worth $7,472,000 after acquiring an additional 30,052 shares during the period. Institutional investors and hedge funds 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.