Brokerages Set Cellebrite DI Ltd. (NASDAQ:CLBT) Target Price at $18.57

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $18.57.

Several equities analysts have recently weighed in on CLBT shares. Needham & Company LLC raised their target price on Cellebrite DI from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. TD Cowen raised their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Craig Hallum upped their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT opened at $17.31 on Friday. The firm has a fifty day moving average of $15.94 and a 200 day moving average of $13.04. The firm has a market cap of $3.56 billion, a PE ratio of -29.84, a PEG ratio of 2.29 and a beta of 1.52. Cellebrite DI has a one year low of $6.36 and a one year high of $17.82.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, August 15th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. On average, equities analysts predict that Cellebrite DI will post 0.31 EPS for the current fiscal year.

Institutional Trading of Cellebrite DI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pembroke Management LTD lifted its stake in shares of 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 purchasing an additional 786,310 shares during the last quarter. 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 lifted its position in Cellebrite DI by 26.8% in the first quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after buying an additional 612,787 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in 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 buying an additional 514,858 shares during the period. Finally, Ashford Capital Management Inc. increased its position in shares of Cellebrite DI by 23.5% during the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after acquiring an additional 350,140 shares during the last quarter. 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.