Cellebrite DI (NASDAQ:CLBT) Shares Decline 7.2% After Earnings Report

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) experienced a notable decline of 7.2% during mid-day trading on Thursday, following the release of disappointing earnings results. The stock dipped to a low of $21.80 before recovering slightly to last trade at $23.13. In total, 1,094,046 shares changed hands, marking a significant drop of 38% compared to the average trading volume of 1,757,342 shares. The previous closing price was $24.92.

The earnings report indicated an earnings per share (EPS) of $0.07 for the quarter, which fell short of analyst expectations, as the consensus estimate stood at $0.10. Additionally, the company reported a negative net margin of 82.28%, albeit with a positive return on equity of 122.59%, highlighting contrasting financial performance metrics.

Recent Analyst Ratings

Cellebrite DI has attracted attention from various financial analysts recently. On January 22nd, Needham & Company LLC raised their price target for the stock from $21.00 to $28.00, granting it a "buy" rating. Similarly, JPMorgan Chase & Co. increased their target price from $24.00 to $28.00 and assigned an "overweight" rating in a recent report. Craig Hallum also adjusted their price target upward from $23.00 to $24.00, maintaining a "buy" rating on the stock as of November 7th. Currently, eight analysts have rated Cellebrite with a buy rating, leading to an overall average rating of "buy" and a consensus target price of $22.14 according to MarketBeat data.

Institutional Involvement

Recent trading activity has also seen various hedge funds adjusting their positions in Cellebrite DI. FMR LLC significantly increased their stock holdings by 89.1% during the fourth quarter, now owning 10,621,344 shares valued at approximately $233.99 million after acquiring an additional 5,004,587 shares in the last quarter. True Wind Capital Management L.P. raised its stake by 18.2%, owning 13,861,007 shares now valued at $305.36 million after increasing their holdings by 2,130,386 shares. Other notable investments include Principal Financial Group Inc. and Lord Abbett & Co. LLC, which both established new positions in the company. Collectively, institutional investors hold about 45.88% of Cellebrite’s stock.

Stock Overview

The stock is positioned below its 50-day simple moving average of $22.57 and its 200-day simple moving average of $19.09. With a market capitalization of $4.76 billion, Cellebrite DI has a P/E ratio of -14.91 and a PEG ratio of 3.72, alongside a beta of 1.47, reflecting its volatility in the market.

About Cellebrite DI

Cellebrite DI Ltd. specializes in developing advanced solutions for legally authorized investigations across various regions including Europe, the Middle East, Africa, the Americas, and Asia-Pacific. Their Digital Intelligence (DI) suite empowers users to gather, analyze, review, and manage digital data throughout the investigative process. This suite is crucial for cases pertaining to child exploitation, homicide, terrorism, border security, sexual crimes, human trafficking, corporate matters, cryptocurrency, and intellectual property theft.

Additional Insights

• Five stocks we like better than Cellebrite DI
• 3 Home Improvement Stocks that Can Upgrade Your Portfolio
• Buffett Buys More Occidental Petroleum—Sticking to His Playbook
• What Is WallStreetBets and What Stocks Are They Targeting?
• CVS Health: Earnings Beat Ignites Stock Rally
• Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
• Honeywell’s Breakup: Is HON Stock a Sweet Deal for Investors?

Cellebrite, Earnings, Stock