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

Cellebrite DI (NASDAQ:CLBT) had its price objective raised by Craig Hallum from $23.00 to $24.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. TD Cowen boosted their target price on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Lake Street Capital boosted their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 16th. Needham & Company LLC lifted their price objective on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America upped their target price on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Cellebrite DI currently has an average rating of “Buy” and an average target price of $20.29.

Cellebrite DI Stock Performance

Shares of NASDAQ:CLBT opened at $18.61 on Thursday. Cellebrite DI has a 52 week low of $7.22 and a 52 week high of $21.00. The company has a 50-day moving average price of $17.62 and a 200 day moving average price of $14.31.

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, topping analysts’ consensus estimates of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The business had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $102.06 million. During the same period in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, research analysts forecast that Cellebrite DI will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after acquiring an additional 1,017 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Cellebrite DI during the second quarter worth approximately $71,000. Pathway Financial Advisers LLC lifted its stake in shares of Cellebrite DI by 1,583.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after purchasing an additional 4,118 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Cellebrite DI during the 2nd quarter worth about $103,000. Hedge funds and other 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.