Cellebrite DI (NASDAQ:CLBT - Get Free Report) had its price objective reduced by research analysts at Lake Street Capital from $24.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Lake Street Capital's price target would suggest a potential upside of 42.02% from the company's current price.
Several other brokerages also recently commented on CLBT. Wall Street Zen downgraded Cellebrite DI from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Finally, Needham & Company LLC dropped their price objective on Cellebrite DI from $24.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cellebrite DI presently has an average rating of "Moderate Buy" and an average target price of $21.00.
Read Our Latest Research Report on CLBT
Cellebrite DI Stock Up 1.3%
Cellebrite DI stock traded up $0.20 during mid-day trading on Friday, hitting $15.49. 1,266,511 shares of the company's stock were exchanged, compared to its average volume of 1,629,088. The firm has a market capitalization of $3.71 billion, a P/E ratio of -16.15, a PEG ratio of 2.82 and a beta of 1.27. Cellebrite DI has a fifty-two week low of $13.10 and a fifty-two week high of $26.30. The company's 50 day simple moving average is $15.00 and its 200-day simple moving average is $17.88.
Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $113.28 million for the quarter, compared to the consensus estimate of $112.33 million. Cellebrite DI had a positive return on equity of 35.36% and a negative net margin of 46.34%. The firm's revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Research analysts expect that Cellebrite DI will post 0.3 EPS for the current year.
Institutional Trading of Cellebrite DI
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Axon Enterprise Inc. acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at about $198,270,000. Voss Capital LP increased its position in shares of Cellebrite DI by 34.0% in the second quarter. Voss Capital LP now owns 5,150,000 shares of the company's stock valued at $82,400,000 after acquiring an additional 1,306,398 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Cellebrite DI by 17.1% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,913,014 shares of the company's stock valued at $62,608,000 after acquiring an additional 570,000 shares during the last quarter. Invesco Ltd. increased its position in Cellebrite DI by 6.4% during the second quarter. Invesco Ltd. now owns 3,505,552 shares of the company's stock worth $56,089,000 after buying an additional 209,473 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Cellebrite DI during the first quarter worth approximately $60,939,000. Institutional investors and hedge funds own 45.88% of the company's stock.
About Cellebrite DI
(
Get Free Report)
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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