JPMorgan Chase & Co. Raises Cellebrite DI (NASDAQ:CLBT) Price Target to $15.00

Cellebrite DI (NASDAQ:CLBT) had its price objective hoisted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

CLBT has been the subject of a number of other reports. Lake Street Capital started coverage on shares of Cellebrite DI in a research report on Friday, April 19th. They issued a buy rating and a $13.00 target price for the company. Needham & Company LLC increased their target price on shares of Cellebrite DI from $13.50 to $14.00 and gave the company a buy rating in a research report on Friday, May 24th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $17.33.

Cellebrite DI Stock Up 9.9 %

CLBT opened at $16.44 on Wednesday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -28.34, a PEG ratio of 1.90 and a beta of 1.50. Cellebrite DI has a 52-week low of $6.36 and a 52-week high of $16.59. The firm’s fifty day simple moving average is $12.66 and its two-hundred day simple moving average is $11.56.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, August 15th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 417.94%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. On average, research analysts forecast that Cellebrite DI will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. increased its position in Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after purchasing an additional 1,017 shares during the last quarter. Scalar Gauge Management LLC increased its position in shares of Cellebrite DI by 15.2% during the second quarter. Scalar Gauge Management LLC now owns 453,554 shares of the company’s stock valued at $5,420,000 after acquiring an additional 60,000 shares during the last quarter. Apis Capital Advisors LLC increased its position in shares of Cellebrite DI by 22.3% during the second quarter. Apis Capital Advisors LLC now owns 274,000 shares of the company’s stock valued at $3,274,000 after acquiring an additional 50,000 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Cellebrite DI during the second quarter valued at about $143,000. Finally, Sei Investments Co. increased its position in shares of Cellebrite DI by 16.9% during the second quarter. Sei Investments Co. now owns 141,644 shares of the company’s stock valued at $1,693,000 after acquiring an additional 20,478 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.