Cellebrite DI (NASDAQ:CLBT) Reaches New 1-Year High – What’s Next?

Cellebrite DI Ltd. (NASDAQ:CLBT) reached a new 52-week high during trading on Friday . The company traded as high as $21.86 and last traded at $21.23, with a volume of 62342 shares traded. The stock had previously closed at $21.29.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday. Needham & Company LLC raised their price objective on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Craig Hallum boosted their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, TD Cowen increased their price objective 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 analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.57.

Cellebrite DI Price Performance

The company has a market capitalization of $4.50 billion, a P/E ratio of -14.08, a PEG ratio of 2.71 and a beta of 1.51. The stock’s fifty day simple moving average is $19.14 and its 200-day simple moving average is $16.02.

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 firm had revenue of $106.90 million for the quarter, compared to the consensus estimate of $102.06 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. On average, research analysts predict that Cellebrite DI Ltd. will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Cellebrite DI during the third quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. raised 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 valued at $33,000 after purchasing an additional 1,017 shares during the period. Advisors Asset Management Inc. raised its holdings in Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after acquiring an additional 1,742 shares during the period. Pathway Financial Advisers LLC lifted its position in Cellebrite DI by 1,583.8% during the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after acquiring an additional 4,118 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Cellebrite DI in the second quarter valued at approximately $71,000. Institutional investors and hedge funds own 45.88% of the company’s stock.

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.