Wall Street Zen Downgrades Cellebrite DI (NASDAQ:CLBT) to Hold

Key Points

• Cellebrite DI has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting analyst caution regarding the company's stock performance.
• JPMorgan Chase & Co. has reduced its target price for Cellebrite DI from $29.00 to $25.00, while other analysts have maintained more favorable ratings.
• The company's latest quarterly earnings report indicated a positive return on equity of 35.36%, but revenues fell short of analyst expectations despite showing a 20% increase year-over-year.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

CLBT has been the subject of several other reports. Needham & Company LLC reissued a "buy" rating and set a $24.00 target price on shares of Cellebrite DI in a research report on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.43.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT traded down $0.06 during trading on Friday, hitting $13.64. 2,406,797 shares of the company traded hands, compared to its average volume of 1,574,719. The business's fifty day moving average is $15.52 and its 200 day moving average is $18.39. Cellebrite DI has a fifty-two week low of $11.90 and a fifty-two week high of $26.30. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -14.21, a P/E/G ratio of 2.76 and a beta of 1.27.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $107.55 million during 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 for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, analysts predict that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. Axon Enterprise Inc. purchased a new stake in shares of Cellebrite DI during the 4th quarter valued at approximately $198,270,000. FMR LLC lifted its stake in shares of Cellebrite DI by 89.1% during the 4th quarter. FMR LLC now owns 10,621,344 shares of the company's stock valued at $233,988,000 after buying an additional 5,004,587 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Cellebrite DI during the 1st quarter valued at approximately $60,939,000. Invesco Ltd. increased its holdings in Cellebrite DI by 122.1% during the 1st quarter. Invesco Ltd. now owns 3,296,079 shares of the company's stock worth $64,043,000 after acquiring an additional 1,811,757 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Cellebrite DI by 749.9% during 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 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.