Cellebrite DI Ltd. (NASDAQ:CLBT) Receives Average Rating of "Buy" from Brokerages

Key Points

• Cellebrite DI Ltd. has received an average recommendation of "Buy" from seven brokerages, with an average 1-year price target of $22.43.
• The company reported $0.10 earnings per share for its latest quarter, surpassing analysts' expectations, and its revenue increased by 20.0% year-over-year.
• Institutional investors have shown increased interest, with several firms, including Bosun Asset Management LLC and OneDigital Investment Advisors LLC, upping their stakes in Cellebrite DI shares recently.

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) has been given an average rating of "Buy" by the seven brokerages that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $22.43.

A number of brokerages have issued reports on CLBT. Needham & Company LLC restated a "buy" rating and set a $24.00 price target on shares of Cellebrite DI in a research note on Friday, June 6th. JPMorgan Chase & Co. reduced their target price on shares of Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th.

Cellebrite DI Stock Up 0.8%

NASDAQ CLBT traded up $0.12 on Friday, reaching $14.49. The company had a trading volume of 788,870 shares, compared to its average volume of 1,463,208. The stock has a market capitalization of $3.47 billion, a PE ratio of -15.09, a price-to-earnings-growth ratio of 2.90 and a beta of 1.28. Cellebrite DI has a 12 month low of $11.90 and a 12 month high of $26.30. The firm's 50 day moving average price is $15.69 and its 200 day moving average price is $18.60.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $107.55 million for the quarter, compared to the consensus estimate of $109.36 million. Cellebrite DI had a negative net margin of 46.34% and a positive return on equity of 35.36%. The firm's revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. On average, research analysts expect that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Axon Enterprise Inc. acquired a new position in Cellebrite DI during the fourth quarter worth about $198,270,000. FMR LLC boosted its stake in shares of Cellebrite DI by 89.1% in the fourth quarter. FMR LLC now owns 10,621,344 shares of the company's stock valued at $233,988,000 after purchasing an additional 5,004,587 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in Cellebrite DI during the 1st quarter valued at $60,939,000. Invesco Ltd. raised its holdings in shares of Cellebrite DI by 122.1% during the first quarter. Invesco Ltd. now owns 3,296,079 shares of the company's stock worth $64,043,000 after purchasing an additional 1,811,757 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Cellebrite DI by 749.9% in the 1st quarter. Handelsbanken Fonder AB now owns 1,518,700 shares of the company's stock worth $29,508,000 after acquiring an additional 1,340,000 shares during the period. 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.