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

Cellebrite DI Ltd. (NASDAQ:CLBT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $19.30 and last traded at $18.97, with a volume of 67125 shares changing hands. The stock had previously closed at $18.55.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen raised their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Needham & Company LLC upped their target price 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. Finally, Craig Hallum lifted their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.57.

Cellebrite DI Stock Up 4.1 %

The stock’s fifty day moving average price is $17.47 and its 200 day moving average price is $14.10.

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

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. Point72 Asia Singapore Pte. Ltd. grew its stake in Cellebrite DI by 59.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after buying an additional 1,017 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Cellebrite DI by 1,583.8% during the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after acquiring an additional 4,118 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Cellebrite DI in the second quarter valued at approximately $71,000. nVerses Capital LLC purchased a new stake in shares of Cellebrite DI in the second quarter valued at approximately $103,000. Finally, Venturi Wealth Management LLC grew its position in Cellebrite DI by 28.6% in the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock worth $152,000 after acquiring an additional 2,000 shares during the period. 45.88% of the stock is owned by 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.