Cellebrite DI (NASDAQ:CLBT) Sets New 12-Month High – Time to Buy?

Cellebrite DI Ltd. (NASDAQ:CLBT)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $21.86 and last traded at $21.23, with a volume of 62342 shares traded. The stock had previously closed at $21.29.

Analysts Set New Price Targets

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

Cellebrite DI Stock Performance

The firm has a 50-day moving average price of $19.14 and a 200-day moving average price of $16.02. The stock has a market cap of $4.50 billion, a PE ratio of -14.08, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51.

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

Hedge Funds Weigh In On Cellebrite DI

Institutional investors and hedge funds have recently made changes to their positions in the business. Telemark Asset Management LLC bought a new position in shares of Cellebrite DI in the third quarter worth about $6,736,000. Two Sigma Advisers LP grew its stake in Cellebrite DI by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock worth $22,584,000 after acquiring an additional 120,000 shares in the last quarter. Scalar Gauge Management LLC increased its position in shares of Cellebrite DI by 15.2% during the second quarter. Scalar Gauge Management LLC now owns 453,554 shares of the company’s stock worth $5,420,000 after acquiring an additional 60,000 shares during the period. Connors Investor Services Inc. bought a new stake in shares of Cellebrite DI during the second quarter valued at approximately $1,803,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Cellebrite DI in the third quarter valued at approximately $23,402,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.