TD Cowen Raises Cellebrite DI (NASDAQ:CLBT) Price Target to $23.00

Cellebrite DI (NASDAQ:CLBT) had its target price raised by TD Cowen from $20.00 to $23.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on CLBT. Needham & Company LLC increased their target price on Cellebrite DI from $14.00 to $17.00 and gave the stock a buy rating in a report on Friday, August 16th. Lake Street Capital raised their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a buy rating in a research report on Friday, August 16th. Craig Hallum upped their target price on shares of Cellebrite DI from $16.00 to $20.00 and gave the stock a buy rating in a research report on Friday, August 16th. Bank of America raised their price target on shares of Cellebrite DI from $13.00 to $17.00 and gave the company a buy rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Cellebrite DI has a consensus rating of Buy and a consensus target price of $18.57.

Cellebrite DI Trading Down 1.4 %

NASDAQ CLBT opened at $16.63 on Monday. Cellebrite DI has a 1-year low of $6.36 and a 1-year high of $17.82. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -28.66, a PEG ratio of 2.38 and a beta of 1.52. The stock’s 50 day moving average is $15.43 and its two-hundred day moving average is $12.79.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. On average, analysts predict that Cellebrite DI will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently bought and sold shares of CLBT. Quadrature Capital Ltd acquired a new position in shares of Cellebrite DI in the 4th quarter valued at $2,222,000. Capstone Investment Advisors LLC acquired a new position in Cellebrite DI in the first quarter valued at about $870,000. Sei Investments Co. boosted its holdings in Cellebrite DI by 44.7% during the first quarter. Sei Investments Co. now owns 121,166 shares of the company’s stock worth $1,343,000 after buying an additional 37,408 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Cellebrite DI by 7.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock worth $56,446,000 after buying an additional 514,858 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of Cellebrite DI in the 1st quarter valued at about $862,000. 45.88% of the stock is owned by institutional investors.

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.