Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $22.00

Cellebrite DI (NASDAQ:CLBT) had its price target increased by JPMorgan Chase & Co. from $21.00 to $22.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on CLBT. Craig Hallum boosted 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 Wednesday, September 25th. Deutsche Bank Aktiengesellschaft upped their price target on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 16th. Bank of America raised their price objective on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Needham & Company LLC boosted their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, TD Cowen increased their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.29.

Cellebrite DI Price Performance

Shares of NASDAQ:CLBT opened at $18.61 on Thursday. The stock’s 50 day moving average price is $17.62 and its 200 day moving average price is $14.31. Cellebrite DI has a 12 month low of $7.22 and a 12 month high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last announced 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 positive return on equity of 122.59% and a negative net margin of 82.28%. The business had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Research analysts forecast that Cellebrite DI will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors have recently bought and sold shares of CLBT. Principal Financial Group Inc. acquired a new position in shares of Cellebrite DI in the 3rd quarter valued at about $23,402,000. Pembroke Management LTD grew its stake 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 purchasing an additional 786,310 shares in the last quarter. Acadian Asset Management LLC increased its position in Cellebrite DI by 26.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock worth $32,062,000 after purchasing an additional 612,787 shares during the last quarter. Meitav Investment House Ltd. raised its stake in shares of Cellebrite DI by 29.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after purchasing an additional 473,293 shares in the last quarter. Finally, Ashford Capital Management Inc. lifted its holdings in shares of Cellebrite DI by 23.5% during the 1st quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after buying an additional 350,140 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.