Cellebrite DI (NASDAQ:CLBT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cellebrite DI (NASDAQ:CLBT) had its price target increased by JPMorgan Chase & Co. from $22.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 20.72% from the company’s previous close.

Other analysts also recently issued research reports about the company. Needham & Company LLC lifted their price target on Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. TD Cowen lifted their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Craig Hallum increased their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cellebrite DI currently has a consensus rating of “Buy” and an average price target of $20.57.

Cellebrite DI Stock Performance

NASDAQ:CLBT opened at $19.88 on Monday. Cellebrite DI has a 52-week low of $7.91 and a 52-week high of $21.72. The business’s fifty day moving average is $18.93 and its 200 day moving average is $15.82. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -12.83, a PEG ratio of 2.71 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS 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 company had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. During the same period last year, the business earned $0.09 earnings per share. Cellebrite DI’s revenue was up 27.0% compared to the same quarter last year. Equities analysts predict that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. increased 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 acquiring an additional 1,017 shares during the period. Tower View Wealth Management LLC increased its holdings in Cellebrite DI by 1.2% during the 3rd quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock valued at $2,200,000 after purchasing an additional 1,500 shares during the period. Quarry LP bought a new position in Cellebrite DI during the 3rd quarter valued at approximately $27,000. Advisors Asset Management Inc. lifted 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 worth $52,000 after buying an additional 1,742 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Cellebrite DI by 28.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock worth $152,000 after buying an additional 2,000 shares during the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.