Cellebrite DI (NASDAQ:CLBT) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Cellebrite DI (NASDAQ:CLBT) in a research note released on Friday, Benzinga reports. The brokerage issued a buy rating and a $13.00 price target on the stock.

CLBT has been the subject of several other reports. William Blair raised Cellebrite DI from a market perform rating to an outperform rating in a research report on Wednesday, March 13th. Bank of America raised their price objective on shares of Cellebrite DI from $12.00 to $13.00 and gave the stock a buy rating in a report on Monday, April 1st. Craig Hallum boosted 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, Needham & Company LLC increased their target price on shares of Cellebrite DI from $13.00 to $13.50 and gave the company a buy rating in a research report on Thursday, March 28th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $12.42.

Cellebrite DI Stock Performance

Shares of CLBT stock opened at $10.47 on Friday. Cellebrite DI has a 52-week low of $5.22 and a 52-week high of $12.50. The company has a 50-day simple moving average of $11.23 and a two-hundred day simple moving average of $9.21. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -24.35, a PEG ratio of 1.84 and a beta of 1.53.

Cellebrite DI (NASDAQ:CLBT) last released its earnings results on Thursday, February 15th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $93.01 million during the quarter, compared to analyst estimates of $85.43 million. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. On average, sell-side analysts forecast that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

Institutional investors have recently added to or reduced their stakes in the business. IGP Investments G.P.L.P LP bought a new stake in shares of Cellebrite DI in the fourth quarter valued at approximately $182,619,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Cellebrite DI during the 3rd quarter valued at $50,270,000. Morgan Stanley lifted its position in shares of Cellebrite DI by 53,737.4% during the fourth quarter. Morgan Stanley now owns 2,144,884 shares of the company’s stock worth $9,352,000 after acquiring an additional 2,140,900 shares in the last quarter. Ashford Capital Management Inc. bought a new position in shares of Cellebrite DI in the fourth quarter worth $12,913,000. Finally, Voss Capital LLC boosted its holdings in shares of Cellebrite DI by 207.7% in the fourth quarter. Voss Capital LLC now owns 1,835,000 shares of the company’s stock worth $15,891,000 after acquiring an additional 1,238,580 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

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.