Cellebrite DI (NASDAQ:CLBT) Upgraded to Buy at Wall Street Zen

Cellebrite DI (NASDAQ:CLBT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reduced their price objective on Cellebrite DI from $24.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Lake Street Capital reduced their price target on shares of Cellebrite DI from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cellebrite DI from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has an average rating of “Buy” and a consensus price target of $21.00.

Cellebrite DI Trading Up 2.0%

CLBT stock opened at $15.60 on Friday. The firm has a market capitalization of $3.74 billion, a PE ratio of -20.53, a P/E/G ratio of 3.09 and a beta of 1.27. Cellebrite DI has a one year low of $13.10 and a one year high of $26.30. The firm has a 50-day moving average of $14.98 and a two-hundred day moving average of $17.82.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Cellebrite DI had a positive return on equity of 25.28% and a negative net margin of 34.56%. The company had revenue of $113.28 million during the quarter, compared to analyst estimates of $112.33 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities research analysts anticipate that Cellebrite DI will post 0.3 earnings per share for the current year.

Institutional Trading of Cellebrite DI

Several hedge funds and other institutional investors have recently modified their holdings of the company. Axon Enterprise Inc. purchased a new stake in shares of Cellebrite DI during the 4th quarter worth about $198,270,000. T. Rowe Price Investment Management Inc. bought a new position in Cellebrite DI during the first quarter valued at approximately $60,939,000. Invesco Ltd. raised its position in Cellebrite DI by 122.1% during the first quarter. Invesco Ltd. now owns 3,296,079 shares of the company’s stock valued at $64,043,000 after acquiring an additional 1,811,757 shares in the last quarter. Handelsbanken Fonder AB raised its position in Cellebrite DI by 749.9% during the first quarter. Handelsbanken Fonder AB now owns 1,518,700 shares of the company’s stock valued at $29,508,000 after acquiring an additional 1,340,000 shares in the last quarter. Finally, Voss Capital LP raised its position in Cellebrite DI by 34.0% during the second quarter. Voss Capital LP now owns 5,150,000 shares of the company’s stock valued at $82,400,000 after acquiring an additional 1,306,398 shares in 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.