Cellebrite DI (NASDAQ:CLBT) Reaches New 52-Week High – Still a Buy?

Cellebrite DI Ltd. (NASDAQ:CLBT)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.85 and last traded at $24.88, with a volume of 1113286 shares trading hands. The stock had previously closed at $24.04.

Analyst Ratings Changes

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

Cellebrite DI Price Performance

The company has a 50-day moving average price of $21.77 and a 200 day moving average price of $18.46. The firm has a market capitalization of $5.08 billion, a PE ratio of -15.92, a P/E/G ratio of 3.55 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $102.06 million. During the same period last year, the firm posted $0.09 earnings per share. Cellebrite DI’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, research analysts anticipate that Cellebrite DI Ltd. will post 0.32 earnings per share for the current year.

Institutional Trading of Cellebrite DI

A number of large investors have recently made changes to their positions in CLBT. Quarry LP bought a new position in shares of Cellebrite DI during the 3rd quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in 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 purchasing an additional 1,017 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after acquiring an additional 1,742 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Cellebrite DI by 1,583.8% during 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, R Squared Ltd purchased a new position in Cellebrite DI in the 4th quarter worth $100,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.