JPMorgan Chase & Co. Raises Cellebrite DI (NASDAQ:CLBT) Price Target to $14.00

Cellebrite DI (NASDAQ:CLBT) had its price objective boosted by JPMorgan Chase & Co. from $12.00 to $14.00 in a research report report published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Bank of America boosted their price objective on shares of Cellebrite DI from $12.00 to $13.00 and gave the company a buy rating in a research report on Monday, April 1st. Needham & Company LLC lifted their target price on shares of Cellebrite DI from $13.50 to $14.00 and gave the company a buy rating in a research note on Friday. William Blair upgraded shares of Cellebrite DI from a market perform rating to an outperform rating in a research note on Wednesday, March 13th. Craig Hallum lifted their target price on shares of Cellebrite DI from $14.00 to $16.00 and gave the company a buy rating in a research note on Monday, April 1st. Finally, Lake Street Capital initiated coverage on shares of Cellebrite DI in a research note on Friday, April 19th. They set a buy rating and a $13.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Cellebrite DI presently has a consensus rating of Buy and a consensus price target of $13.17.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $11.10 on Friday. Cellebrite DI has a 1 year low of $5.45 and a 1 year high of $12.50. The firm has a fifty day moving average price of $11.11 and a 200-day moving average price of $9.93. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -19.14, a PEG ratio of 1.93 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 220.14%. The firm had revenue of $89.60 million during the quarter, compared to the consensus estimate of $85.34 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities research analysts expect that Cellebrite DI will post 0.33 EPS for the current year.

Institutional Trading of Cellebrite DI

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Cellebrite DI by 75.0% in the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after purchasing an additional 1,500 shares in the last quarter. Quarry LP purchased a new stake in Cellebrite DI in the 4th quarter worth $36,000. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Cellebrite DI in the 4th quarter worth $113,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cellebrite DI by 44.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,091 shares of the company’s stock worth $115,000 after purchasing an additional 4,672 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Cellebrite DI in the 4th quarter worth $131,000. 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.