Brokerages Set Cellebrite DI Ltd. (NASDAQ:CLBT) Target Price at $22.43

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 received a consensus recommendation of "Buy" from the seven research firms that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have covered the stock in the last year is $22.43.

Several research firms recently issued reports on CLBT. JPMorgan Chase & Co. dropped their price target on shares of Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and set a $24.00 price target on shares of Cellebrite DI in a research note on Friday, June 6th.

Cellebrite DI Price Performance

NASDAQ CLBT traded down $0.26 on Friday, hitting $14.32. 1,071,768 shares of the stock were exchanged, compared to its average volume of 1,550,164. Cellebrite DI has a 52-week low of $11.90 and a 52-week high of $26.30. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -14.92, a P/E/G ratio of 2.94 and a beta of 1.28. The company's 50-day moving average price is $15.80 and its two-hundred day moving average price is $18.72.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Cellebrite DI had a negative net margin of 46.34% and a positive return on equity of 35.36%. The firm had revenue of $107.55 million during the quarter, compared to analysts' expectations of $109.36 million. During the same period in the prior year, the company posted $0.08 earnings per share. Cellebrite DI's revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts predict that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new stake in Cellebrite DI in the 4th quarter valued at $274,000. Teacher Retirement System of Texas acquired a new position in shares of Cellebrite DI during the 4th quarter worth approximately $442,000. Sei Investments Co. grew its position in shares of Cellebrite DI by 43.9% during the 4th quarter. Sei Investments Co. now owns 408,043 shares of the company's stock worth $8,989,000 after purchasing an additional 124,558 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Cellebrite DI during the 4th quarter worth approximately $308,000. Finally, LPL Financial LLC lifted its holdings in shares of Cellebrite DI by 39.0% during the 4th quarter. LPL Financial LLC now owns 54,402 shares of the company's stock worth $1,198,000 after acquiring an additional 15,267 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.