Cellebrite DI (NASDAQ:CLBT) Stock Price Up 4.1% on Better-Than-Expected Earnings

Cellebrite DI Ltd. (NASDAQ:CLBT)’s stock price shot up 4.1% on Friday following a better than expected earnings announcement. The stock traded as high as $15.58 and last traded at $15.58. 195,974 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,099,063 shares. The stock had previously closed at $14.96.

The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $95.70 million during the quarter, compared to analyst estimates of $91.94 million. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 417.94%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS.

Analysts Set New Price Targets

Several research firms recently weighed in on CLBT. Craig Hallum lifted their price objective on Cellebrite DI from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Lake Street Capital upped their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday. Bank of America boosted their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC increased their target price on Cellebrite DI from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.33.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently bought and sold shares of CLBT. IGP Investments G.P.L.P LP acquired a new stake in Cellebrite DI in the fourth quarter worth about $182,619,000. Pembroke Management LTD boosted its stake in Cellebrite DI by 104.9% in the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock worth $18,352,000 after purchasing an additional 786,310 shares in the last quarter. Scalar Gauge Management LLC purchased a new stake in Cellebrite DI during the 4th quarter worth approximately $5,914,000. Acadian Asset Management LLC increased its stake in Cellebrite DI by 26.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after purchasing an additional 612,787 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Cellebrite DI by 7.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock worth $56,446,000 after buying an additional 514,858 shares during the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Stock Up 9.9 %

The company’s 50 day moving average price is $12.66 and its 200 day moving average price is $11.56. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -28.34, a P/E/G ratio of 1.90 and a beta of 1.50.

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.