Cellebrite DI (NASDAQ:CLBT) Reaches New 12-Month High – What’s Next?

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) hit a new 52-week high on Wednesday . The stock traded as high as $21.08 and last traded at $21.04, with a volume of 191873 shares changing hands. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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 research report on Thursday, November 7th. Bank of America boosted their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. TD Cowen boosted 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $20.29.

Cellebrite DI Stock Performance

The stock’s 50 day simple moving average is $18.35 and its 200-day simple moving average is $15.31.

Cellebrite DI (NASDAQ:CLBT) last released its 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 analyst estimates of $102.06 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Cellebrite DI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in Cellebrite DI during the third quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Cellebrite DI by 59.6% during 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 in the last quarter. Advisors Asset Management Inc. grew its position in shares of 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 acquiring an additional 1,742 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Cellebrite DI during the second quarter worth approximately $71,000. Finally, Pathway Financial Advisers LLC grew its position in shares of 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. 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.