Analyst Mike Cikos from Needham maintained a Buy rating on Cellebrite DI (CLBT – Research Report) and keeping the price target at $24.00.
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Mike Cikos has given his Buy rating due to a combination of factors, primarily focusing on Cellebrite’s strategic acquisition of Corellium. This acquisition is seen as a significant move that expands Cellebrite’s total addressable market (TAM) by allowing the company to reach new enterprise customers in both public and private sectors.
Additionally, Corellium’s integration into Cellebrite’s platform is expected to enhance its capabilities in vulnerability research, malware analysis, and security testing. These added functionalities are anticipated to strengthen Cellebrite’s position in the market, making the acquisition a positive development for the company’s future growth prospects.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $25.00 price target.