JPMorgan Chase & Co. Has Lowered Expectations for Cellebrite DI (NASDAQ:CLBT) Stock Price

Cellebrite DI (NASDAQ:CLBT) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $29.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 24.25% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CLBT. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Cellebrite DI in a report on Wednesday, April 2nd. Lake Street Capital upped their target price on Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $23.00.

Cellebrite DI Price Performance

CLBT stock opened at $20.12 on Monday. The company has a market capitalization of $4.82 billion, a PE ratio of -14.47, a P/E/G ratio of 4.27 and a beta of 1.44. Cellebrite DI has a 12 month low of $10.25 and a 12 month high of $26.30. The firm’s 50-day moving average is $19.00 and its 200 day moving average is $20.26.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. Sell-side analysts forecast that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellebrite DI

A number of hedge funds have recently made changes to their positions in CLBT. Assetmark Inc. purchased a new stake in shares of Cellebrite DI during the 1st quarter worth $33,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Cellebrite DI during the 1st quarter worth $51,000. Gen Wealth Partners Inc purchased a new stake in shares of Cellebrite DI during the 4th quarter worth $85,000. NewEdge Advisors LLC lifted its stake in shares of Cellebrite DI by 600.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock worth $86,000 after purchasing an additional 3,352 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Cellebrite DI during the 4th quarter valued at about $100,000. 45.88% of the stock is currently 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.