Cellebrite DI (NASDAQ:CLBT) Hits New 52-Week High – Should You Buy?

Cellebrite DI Ltd. (NASDAQ:CLBT) shares hit a new 52-week high during trading on Monday . The stock traded as high as $24.85 and last traded at $24.88, with a volume of 1113286 shares traded. The stock had previously closed at $24.04.

Analyst Upgrades and Downgrades

CLBT has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Cellebrite DI from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Craig Hallum boosted their price target 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. Finally, Needham & Company LLC increased their price objective on shares of Cellebrite DI from $21.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cellebrite DI has a consensus rating of “Buy” and a consensus price target of $21.57.

Cellebrite DI Stock Performance

The firm’s 50 day moving average price is $21.98 and its two-hundred day moving average price is $18.63. The firm has a market cap of $5.35 billion, a PE ratio of -16.77, a PEG ratio of 3.55 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The firm had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $102.06 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 27.0% compared to the same quarter last year. On average, analysts forecast that Cellebrite DI Ltd. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Cellebrite DI by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company’s stock valued at $7,202,000 after buying an additional 75,092 shares during the last quarter. Telemark Asset Management LLC purchased a new stake in shares of Cellebrite DI in the third quarter valued at about $6,736,000. Two Sigma Advisers LP increased its stake in shares of Cellebrite DI by 9.8% during the third quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company’s stock worth $22,584,000 after acquiring an additional 120,000 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Cellebrite DI by 65.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company’s stock worth $3,473,000 after purchasing an additional 62,320 shares in the last quarter. Finally, State Street Corp lifted its position in Cellebrite DI by 7.3% in the third quarter. State Street Corp now owns 443,700 shares of the company’s stock valued at $7,472,000 after purchasing an additional 30,052 shares during the period. 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.