Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $24.00

Cellebrite DI (NASDAQ:CLBT) had its price target boosted by JPMorgan Chase & Co. from $22.00 to $24.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC lifted their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Craig Hallum boosted their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, TD Cowen raised their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI presently has an average rating of “Buy” and an average price target of $20.57.

Cellebrite DI Trading Up 0.9 %

CLBT opened at $20.41 on Monday. The stock’s fifty day simple moving average is $19.07 and its 200 day simple moving average is $15.98. Cellebrite DI has a 1-year low of $7.91 and a 1-year high of $21.72. The stock has a market cap of $4.20 billion, a PE ratio of -13.17, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51.

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, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The company had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities analysts forecast that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Cellebrite DI by 136.3% in the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after purchasing an additional 3,239,307 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Cellebrite DI in the third quarter valued at about $23,402,000. Pembroke Management LTD grew its position in Cellebrite DI by 104.9% in the second quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock valued at $18,352,000 after acquiring an additional 786,310 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Cellebrite DI during the third quarter worth about $11,523,000. Finally, Summit Partners Public Asset Management LLC bought a new position in shares of Cellebrite DI in the third quarter worth about $9,274,000. 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.