Cellebrite DI (NASDAQ:CLBT) Hits New 12-Month High After Analyst Upgrade

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT – Get Free Report) reached a new 52-week high in midday trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $15.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Cellebrite DI has been trading as high as $16.25 and was last traded at $14.85, with volume of 813,078 shares changing hands. The stock previously closed at $13.94.

Several other brokerages have also recently issued reports on CLBT. Lake Street Capital initiated coverage on Cellebrite DI in a report on Friday, April 19th. They set a “buy” rating and a $13.00 price target for the company. Needham & Company LLC increased their price target on shares of Cellebrite DI from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Six analysts have rated the stock with a “buy” rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $14.20.

View our latest stock analysis on CLBT

Hedge Funds Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Cellebrite DI by 75.0% in the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after purchasing an additional 1,500 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after purchasing an additional 1,017 shares in the last quarter. Quarry LP purchased a new stake in Cellebrite DI during the fourth quarter worth $36,000. Public Employees Retirement Association of Colorado acquired a new position in Cellebrite DI during the second quarter worth $71,000. Finally, nVerses Capital LLC purchased a new position in Cellebrite DI in the second quarter worth approximately $103,000. 45.88% of the shares are owned by institutional investors and hedge funds.

Cellebrite DI shares rise 7.3%

The company has a market cap of $3.08 billion, a price-to-earnings ratio of -25.79, a forward price-to-earnings ratio of 1.84, and a beta of 1.50. The company has a 50-day moving average price of $12.54 and a two-hundred-day moving average price of $11.50.

Cellebrite DI (NASDAQ:CLBT – Get Free Report) last released its quarterly earnings results on Thursday, May 23. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. The company had revenue of $89.60 million during the quarter, compared to analyst estimates of $85.34 million. During the same quarter last year, the company earned $0.03 EPS. Cellebrite DI’s quarterly revenue increased by 25.8% year over year. Analysts predict that Cellebrite DI Ltd. will post 0.34 EPS for the current year.

About Cellebrite DI

(Get free report)

Cellebrite DI Ltd. develops solutions for regulatory investigations in Europe, the Middle East, Africa, the Americas and Asia Pacific. The company’s DI solutions enable users to collect, review, analyze and manage digital data throughout the investigation cycle for regulatory investigations used in a variety of cases including child exploitation, homicide, counter-terrorism, border control, sexual crimes, human trafficking, corporate security, cryptocurrency and intellectual property theft.

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