Cellebrite DI (NASDAQ:CLBT) Reaches New 1-Year High – What’s Next?

Cellebrite DI Ltd. (NASDAQ:CLBT) hit a new 52-week high on Tuesday . The company traded as high as $24.32 and last traded at $24.19, with a volume of 1046492 shares trading hands. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Needham & Company LLC lifted their target price on Cellebrite DI from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Craig Hallum lifted their target price on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $21.57.

Cellebrite DI Price Performance

The firm has a 50 day moving average of $21.51 and a two-hundred day moving average of $18.21. The stock has a market cap of $4.98 billion, a PE ratio of -15.59, a PEG ratio of 3.52 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, equities analysts anticipate that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CLBT. Quarry LP acquired a new stake in shares of Cellebrite DI in the third quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after buying an additional 1,017 shares during the last quarter. Advisors Asset Management Inc. boosted 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 worth $52,000 after buying an additional 1,742 shares during the period. Pathway Financial Advisers LLC increased its position in Cellebrite DI by 1,583.8% in 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. Finally, R Squared Ltd purchased a new stake in Cellebrite DI during the 4th quarter valued at approximately $100,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.