Craig Hallum Increases Cellebrite DI (NASDAQ:CLBT) Price Target to $23.00

Cellebrite DI (NASDAQ:CLBT) had its price objective boosted by stock analysts at Craig Hallum from $20.00 to $23.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 33.60% from the stock’s previous close.

Several other analysts have also commented on CLBT. JPMorgan Chase & Co. raised their price target on shares of Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. TD Cowen lifted their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday. Bank of America increased their price target on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Lake Street Capital increased their target price on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.57.

Cellebrite DI Trading Up 3.5 %

NASDAQ CLBT opened at $17.22 on Wednesday. The stock has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $12.79. Cellebrite DI has a fifty-two week low of $6.36 and a fifty-two week high of $17.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after buying an additional 1,017 shares during the last quarter. Parallel Advisors LLC raised its holdings in Cellebrite DI by 75.0% in the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after acquiring an additional 1,500 shares during the last quarter. Quarry LP purchased a new position in Cellebrite DI in the 4th quarter worth approximately $36,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Cellebrite DI during the 2nd quarter worth approximately $71,000. Finally, nVerses Capital LLC purchased a new stake in shares of Cellebrite DI in the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.