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Cellebrite DI Ltd. (CLBT) Soars 6.1%: Is Further Upside Left in the Stock?
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Cellebrite DI Ltd. (CLBT - Free Report) shares soared 6.1% in the last trading session to close at $12.79. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.7% gain over the past four weeks.
The stock jumped after the announcement of the launch of Cellebrite Federal Solutions and the acquisition of Cyber Technology Services. The acquisition provides extensive domain expertise in cybersecurity, digital forensics and incident response services.
This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +40%. Revenues are expected to be $91.93 million, up 19.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cellebrite DI Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLBT going forward to see if this recent jump can turn into more strength down the road.
Cellebrite DI Ltd. is a member of the Zacks Technology Services industry. One other stock in the same industry, Bitdeer Technologies Group (BTDR - Free Report) , finished the last trading session 7.7% lower at $10.32. BTDR has returned 23.1% over the past month.
For BITDEER TEC GRP, the consensus EPS estimate for the upcoming report has changed +120% over the past month to $0.03. This represents no change from what the company reported a year ago. BITDEER TEC GRP currently has a Zacks Rank of #3 (Hold).
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Cellebrite DI Ltd. (CLBT) Soars 6.1%: Is Further Upside Left in the Stock?
Cellebrite DI Ltd. (CLBT - Free Report) shares soared 6.1% in the last trading session to close at $12.79. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.7% gain over the past four weeks.
The stock jumped after the announcement of the launch of Cellebrite Federal Solutions and the acquisition of Cyber Technology Services. The acquisition provides extensive domain expertise in cybersecurity, digital forensics and incident response services.
This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +40%. Revenues are expected to be $91.93 million, up 19.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cellebrite DI Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLBT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cellebrite DI Ltd. is a member of the Zacks Technology Services industry. One other stock in the same industry, Bitdeer Technologies Group (BTDR - Free Report) , finished the last trading session 7.7% lower at $10.32. BTDR has returned 23.1% over the past month.
For BITDEER TEC GRP, the consensus EPS estimate for the upcoming report has changed +120% over the past month to $0.03. This represents no change from what the company reported a year ago. BITDEER TEC GRP currently has a Zacks Rank of #3 (Hold).