JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cellebrite DI (NASDAQ:CLBT) Stock

Cellebrite DI (NASDAQ:CLBT) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.64% from the company’s current price.

Other analysts also recently issued reports about the company. TD Cowen boosted their target price on Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Needham & Company LLC upped their price target on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum raised their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI has a consensus rating of “Buy” and a consensus price target of $20.57.

Cellebrite DI Stock Down 0.3 %

Shares of CLBT stock opened at $20.23 on Monday. The stock has a market capitalization of $4.17 billion, a PE ratio of -13.05, a P/E/G ratio of 2.71 and a beta of 1.51. Cellebrite DI has a 52 week low of $7.91 and a 52 week high of $21.72. The firm has a 50 day moving average of $18.98 and a two-hundred day moving average of $15.88.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $106.90 million for the quarter, compared to the consensus estimate of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. Analysts expect that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of large investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Cellebrite DI by 136.3% during the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after purchasing an additional 3,239,307 shares during the last quarter. Meitav Investment House Ltd. boosted its holdings in shares of Cellebrite DI by 29.7% during the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after purchasing an additional 473,293 shares during the last quarter. Pembroke Management LTD grew its position in shares of Cellebrite DI by 24.3% in the third quarter. Pembroke Management LTD now owns 1,908,345 shares of the company’s stock valued at $32,137,000 after purchasing an additional 372,619 shares during the period. Principal Financial Group Inc. purchased a new position in Cellebrite DI during the third quarter worth about $23,402,000. Finally, Two Sigma Advisers LP boosted its stake in Cellebrite DI by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock worth $22,584,000 after buying an additional 120,000 shares during the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

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.