Cellebrite DI (NASDAQ:CLBT) Hits New 12-Month Low - Time to Sell?

Key Points

• Cellebrite DI Ltd. (NASDAQ: CLBT) hit a new 52-week low at $13.10, with the last trade recorded at $13.71, indicating potential market concerns.
• Equities analysts have a mixed outlook, with one downgrading their rating from "buy" to "hold," while others maintain a "buy" rating and set price targets between $24.00 and $29.00.
• The company posted earnings of $0.10 per share, exceeding expectations, although its revenue of $107.55 million fell short of the $109.36 million consensus estimate.

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $13.10 and last traded at $13.71, with a volume of 234378 shares changing hands. The stock had previously closed at $13.57.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Cellebrite DI from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. 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. Finally, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.43.

Cellebrite DI Stock Performance

The business has a 50 day simple moving average of $15.19 and a 200-day simple moving average of $18.06. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -14.08, a P/E/G ratio of 2.74 and a beta of 1.27.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.10 earnings per share 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 the consensus estimate 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 for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. Equities analysts predict that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of Cellebrite DI

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. bought a new stake in Cellebrite DI during the first quarter valued at about $33,000. Signaturefd LLC grew its stake in shares of Cellebrite DI by 68.3% during the second quarter. Signaturefd LLC now owns 2,019 shares of the company's stock valued at $32,000 after purchasing an additional 819 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Cellebrite DI by 1,998.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,098 shares of the company's stock valued at $34,000 after purchasing an additional 1,998 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Cellebrite DI during the first quarter valued at approximately $51,000. Finally, Virtus Advisers LLC bought a new position in Cellebrite DI in the first quarter valued at approximately $63,000. 45.88% of the stock is currently 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.

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