Cellebrite DI (NASDAQ:CLBT) Hits New 1-Year High – Should You Buy?

Cellebrite DI Ltd. (NASDAQ:CLBT) shares reached a new 52-week high on Monday . The company traded as high as $24.85 and last traded at $24.88, with a volume of 1113286 shares changing hands. The stock had previously closed at $24.04.

Analysts Set New Price Targets

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

Cellebrite DI Price Performance

The business has a 50 day simple moving average of $21.77 and a 200 day simple moving average of $18.46. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of -15.92, a PEG ratio of 3.55 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS 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 during the quarter, compared to analysts’ expectations of $102.06 million. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was up 27.0% compared to the same quarter last year. On average, equities research analysts predict that Cellebrite DI Ltd. will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently made changes to their positions in CLBT. FMR LLC increased its holdings in shares of Cellebrite DI by 136.3% in the third 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 during the period. Principal Financial Group Inc. acquired a new position in Cellebrite DI in the 3rd quarter valued at $23,402,000. Lord Abbett & CO. LLC purchased a new position in Cellebrite DI during the 3rd quarter worth $11,523,000. Summit Partners Public Asset Management LLC acquired a new stake in shares of Cellebrite DI in the 3rd quarter worth $9,274,000. Finally, Meitav Investment House Ltd. boosted its holdings in shares of Cellebrite DI by 29.7% in the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after acquiring an additional 473,293 shares in the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.