Cellebrite DI (NASDAQ:CLBT) Price Target Increased to $14.00 by Analysts at JPMorgan Chase & Co.

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

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

Cellebrite DI Stock Performance

Shares of NASDAQ:CLBT traded down $0.78 during trading on Friday, reaching $11.10. 2,410,765 shares of the company traded hands, compared to its average volume of 674,895. Cellebrite DI has a 52-week low of $5.45 and a 52-week high of $12.50. The business’s fifty day moving average is $11.11 and its 200-day moving average is $9.89.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 220.14% and a negative net margin of 32.57%. The firm had revenue of $89.60 million during the quarter, compared to analyst estimates of $85.34 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. Equities research analysts predict that Cellebrite DI will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted 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 worth $30,000 after purchasing an additional 1,500 shares in the last quarter. Citigroup Inc. lifted its holdings in Cellebrite DI by 4.7% in the 3rd quarter. Citigroup Inc. now owns 36,622 shares of the company’s stock worth $280,000 after purchasing an additional 1,648 shares in the last quarter. Barclays PLC lifted its holdings in Cellebrite DI by 14.5% in the 3rd quarter. Barclays PLC now owns 15,608 shares of the company’s stock worth $119,000 after purchasing an additional 1,982 shares in the last quarter. Quarry LP bought a new stake in Cellebrite DI in the 4th quarter worth approximately $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased 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 acquiring an additional 4,672 shares during the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.