Cellebrite DI (NASDAQ:CLBT) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cellebrite DI (NASDAQ:CLBTGet Rating) from a sell rating to a hold rating in a research report report published 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. “

Several other brokerages also recently commented on CLBT. JPMorgan Chase & Co. assumed coverage on shares of Cellebrite DI in a report on Thursday, February 24th. They issued an overweight rating and a $10.50 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Cellebrite DI from $11.00 to $10.00 in a research report on Friday, May 13th. Finally, Cowen reduced their price target on shares of Cellebrite DI from $17.00 to $13.00 in a research report on Monday, May 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $11.00.

Shares of CLBT stock opened at $4.56 on Monday. The firm has a 50-day moving average of $5.64 and a 200-day moving average of $6.86. Cellebrite DI has a one year low of $4.10 and a one year high of $13.24.

Several hedge funds have recently added to or reduced their stakes in CLBT. Geode Capital Management LLC bought a new position in shares of Cellebrite DI in the third quarter valued at approximately $681,000. Crescent Park Management L.P. bought a new position in shares of Cellebrite DI in the third quarter valued at approximately $10,209,000. Penserra Capital Management LLC bought a new position in shares of Cellebrite DI in the third quarter valued at approximately $146,000. Morgan Stanley bought a new position in shares of Cellebrite DI in the third quarter valued at approximately $58,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Cellebrite DI in the third quarter valued at approximately $12,964,000. 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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