Cellebrite DI (NASDAQ:CLBT) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Cellebrite DI (NASDAQ:CLBT) in a research note issued to investors on Friday, Benzinga reports. The firm issued a buy rating and a $13.00 target price on the stock.

A number of other brokerages have also recently commented on CLBT. Craig Hallum lifted their target price on Cellebrite DI from $14.00 to $16.00 and gave the stock a buy rating in a report on Monday, April 1st. Needham & Company LLC lifted their target price on Cellebrite DI from $13.00 to $13.50 and gave the stock a buy rating in a report on Thursday, March 28th. William Blair upgraded Cellebrite DI from a market perform rating to an outperform rating in a report on Wednesday, March 13th. Finally, Bank of America raised their price target on Cellebrite DI from $12.00 to $13.00 and gave the stock a buy rating in a research note on Monday, April 1st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has a consensus rating of Buy and a consensus price target of $12.42.

Cellebrite DI Price Performance

NASDAQ CLBT opened at $10.47 on Friday. The stock has a market capitalization of $2.15 billion, a PE ratio of -24.35, a P/E/G ratio of 1.84 and a beta of 1.53. The business has a 50 day simple moving average of $11.25 and a two-hundred day simple moving average of $9.23. Cellebrite DI has a 1-year low of $5.22 and a 1-year high of $12.50.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $85.43 million. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. On average, analysts anticipate that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLBT. Barclays PLC purchased a new position in Cellebrite DI during the 2nd quarter worth $98,000. Counterpoint Mutual Funds LLC purchased a new stake in Cellebrite DI during the 3rd quarter valued at about $135,000. Voss Capital LLC grew its stake in Cellebrite DI by 72.8% during the 3rd quarter. Voss Capital LLC now owns 596,420 shares of the company’s stock valued at $4,563,000 after purchasing an additional 251,285 shares during the last quarter. GW Henssler & Associates Ltd. purchased a new stake in Cellebrite DI during the 3rd quarter valued at about $236,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cellebrite DI by 44.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,091 shares of the company’s stock valued at $115,000 after purchasing an additional 4,672 shares during the last quarter. 45.88% of the stock is currently 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.