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

Cellebrite DI Ltd. (NASDAQ:CLBT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $19.30 and last traded at $18.97, with a volume of 67125 shares traded. The stock had previously closed at $18.55.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Lake Street Capital increased their price target on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. TD Cowen upped their price objective on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Needham & Company LLC lifted their price target on shares of Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Craig Hallum boosted their price objective on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.57.

Cellebrite DI Stock Down 0.3 %

The firm has a 50 day moving average price of $17.55 and a 200 day moving average price of $14.20. The stock has a market cap of $3.93 billion, a PE ratio of -36.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $95.70 million during the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. Cellebrite DI’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Equities analysts forecast that Cellebrite DI Ltd. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. Point72 Asia Singapore Pte. Ltd. boosted 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 valued at $33,000 after acquiring an additional 1,017 shares in the last quarter. Tower View Wealth Management LLC grew its stake in Cellebrite DI by 1.2% during the 3rd quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock worth $2,200,000 after buying an additional 1,500 shares during the last quarter. Venturi Wealth Management LLC increased its position in Cellebrite DI by 28.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $152,000 after buying an additional 2,000 shares in the last quarter. Meritage Portfolio Management raised its stake in Cellebrite DI by 12.0% in the third quarter. Meritage Portfolio Management now owns 27,831 shares of the company’s stock valued at $469,000 after buying an additional 2,973 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Cellebrite DI by 8.3% in the third quarter. Janney Montgomery Scott LLC now owns 51,155 shares of the company’s stock valued at $861,000 after buying an additional 3,912 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Company Profile

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.