Cellebrite DI (NASDAQ:CLBT) Rating Increased to Hold at Zacks Investment Research

Cellebrite DI (NASDAQ:CLBTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Cellebrite DI Ltd. provides digital intelligence solutions for the public and private sectors. Cellebrite DI Ltd., formerly known as TWC Tech Holdings II Corp., is based in SAN FRANCISCO. “

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Cellebrite DI from $11.00 to $10.00 in a research note on Friday, May 13th. Cowen cut their target price on shares of Cellebrite DI from $17.00 to $13.00 in a research note on Monday, May 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Cellebrite DI in a report on Thursday, February 24th. They issued an “overweight” rating and a $10.50 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Shares of Cellebrite DI stock traded down $0.05 during trading hours on Monday, reaching $4.49. 119,744 shares of the company’s stock were exchanged, compared to its average volume of 295,066. The company has a 50 day moving average of $5.72 and a two-hundred day moving average of $6.92. Cellebrite DI has a fifty-two week low of $4.10 and a fifty-two week high of $13.24.

Several large investors have recently modified their holdings of the company. True Wind Capital Management L.P. bought a new position in Cellebrite DI during the fourth quarter worth $107,368,000. Park West Asset Management LLC bought a new position in Cellebrite DI during the third quarter worth $25,039,000. Phoenix Holdings Ltd. raised its stake in Cellebrite DI by 303.6% during the first quarter. Phoenix Holdings Ltd. now owns 2,296,345 shares of the company’s stock worth $14,706,000 after buying an additional 1,727,379 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cellebrite DI in the third quarter valued at $12,964,000. Finally, Greenhaven Road Investment Management L.P. bought a new stake in Cellebrite DI in the fourth quarter valued at $9,453,000. Institutional investors own 36.75% of the company’s stock.

Cellebrite DI Company Profile (Get Rating)

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations. Its DI platform allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation.

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Analyst Recommendations for Cellebrite DI (NASDAQ:CLBT)

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