Cellebrite DI (NASDAQ:CLBT) Sets New 12-Month High at $17.00

Cellebrite DI Ltd. (NASDAQ:CLBT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $17.00 and last traded at $16.97, with a volume of 679808 shares trading hands. The stock had previously closed at $16.78.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CLBT. Lake Street Capital raised 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. Bank of America boosted their price target 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. Needham & Company LLC lifted their price objective on shares of Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Craig Hallum increased their price target on shares of Cellebrite DI from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.33.

Cellebrite DI Stock Up 2.5 %

The company’s 50 day moving average price is $13.12 and its two-hundred day moving average price is $11.81. The firm has a market cap of $3.53 billion, a PE ratio of -29.57, a P/E/G ratio of 1.97 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 515.14%. The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $91.94 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts expect that Cellebrite DI Ltd. will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Large investors have recently bought and sold shares of the business. IGP Investments G.P.L.P LP bought a new stake in shares of Cellebrite DI during the fourth quarter worth $182,619,000. Pembroke Management LTD boosted its position in Cellebrite DI by 104.9% in the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock valued at $18,352,000 after buying an additional 786,310 shares during the period. Scalar Gauge Management LLC purchased a new stake in Cellebrite DI in the 4th quarter valued at about $5,914,000. Acadian Asset Management LLC grew its stake in Cellebrite DI by 26.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock worth $32,062,000 after acquiring an additional 612,787 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Cellebrite DI by 7.8% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock worth $56,446,000 after acquiring an additional 514,858 shares during the period. Hedge funds and other institutional investors 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.