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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) have been assigned an average rating of "Buy" from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.43.

A number of equities research analysts recently commented on CLBT shares. Needham & Company LLC reissued a "buy" rating and set a $24.00 price objective on shares of Cellebrite DI in a research note on Friday, June 6th. JPMorgan Chase & Co. lowered their price objective 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CLBT. Axon Enterprise Inc. acquired a new position in Cellebrite DI during the 4th quarter worth approximately $198,270,000. FMR LLC raised its holdings 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 last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Cellebrite DI during the first quarter worth about $60,939,000. Invesco Ltd. grew its position in Cellebrite DI by 122.1% in the 1st 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 in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Cellebrite DI by 749.9% during the first quarter. Handelsbanken Fonder AB now owns 1,518,700 shares of the company's stock valued at $29,508,000 after acquiring an additional 1,340,000 shares during the last quarter. 45.88% of the stock is owned by institutional investors.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $16.00 on Tuesday. The firm has a market cap of $3.83 billion, a P/E ratio of -16.67, a PEG ratio of 3.19 and a beta of 1.32. The stock's 50-day moving average is $17.50 and its two-hundred day moving average is $19.61. Cellebrite DI has a fifty-two week low of $11.47 and a fifty-two week high of $26.30.

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

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.

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