Cellebrite DI (NASDAQ:CLBT) Reaches New 52-Week High – Time to Buy?

Cellebrite DI Ltd. (NASDAQ:CLBT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.91 and last traded at $22.22, with a volume of 45847 shares trading hands. The stock had previously closed at $22.28.

Analysts Set New Price Targets

Several analysts have issued reports on CLBT shares. Craig Hallum increased their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. TD Cowen increased their target price on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Needham & Company LLC raised their price objective on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $20.57.

Cellebrite DI Stock Performance

The company’s 50 day moving average price is $20.52 and its 200 day moving average price is $17.41. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -14.57, a price-to-earnings-growth ratio of 2.71 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities research analysts forecast that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Cellebrite DI in the 3rd quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after buying an additional 1,017 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after acquiring an additional 1,742 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Cellebrite DI in the 2nd quarter valued at $71,000. Finally, Pathway Financial Advisers LLC lifted its position in shares of Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after acquiring an additional 4,118 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.