Cellebrite DI (NASDAQ:CLBT) Trading Down 7.2% Following Weak Earnings

Cellebrite DI Ltd. (NASDAQ:CLBT) was down 7.2% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $21.80 and last traded at $23.13. Approximately 1,094,046 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,757,342 shares. The stock had previously closed at $24.92.

The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLBT. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Cellebrite DI in a research note on Friday. Lake Street Capital upped their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Craig Hallum lifted their price objective 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.43.

Hedge Funds Weigh In On Cellebrite DI

Institutional investors and hedge funds have recently made changes to their positions in the company. PDT Partners LLC lifted its holdings in Cellebrite DI by 385.5% during the fourth quarter. PDT Partners LLC now owns 122,842 shares of the company’s stock worth $2,706,000 after acquiring an additional 97,539 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Cellebrite DI during the fourth quarter worth about $1,762,000. AQR Capital Management LLC bought a new position in shares of Cellebrite DI during the 4th quarter valued at about $16,205,000. Northern Trust Corp grew its position in shares of Cellebrite DI by 113.6% in the 4th quarter. Northern Trust Corp now owns 211,994 shares of the company’s stock valued at $4,670,000 after purchasing an additional 112,731 shares during the period. Finally, Tudor Investment Corp ET AL grew its position in shares of Cellebrite DI by 11.2% in the 4th quarter. Tudor Investment Corp ET AL now owns 536,122 shares of the company’s stock valued at $11,811,000 after purchasing an additional 53,832 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

Cellebrite DI Trading Down 5.5 %

The business has a 50 day moving average of $22.58 and a 200-day moving average of $19.10. The firm has a market capitalization of $4.22 billion, a P/E ratio of -13.23, a PEG ratio of 3.72 and a beta of 1.47.

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.