In a report released today, Mike Cikos from Needham maintained a Buy rating on Cellebrite DI (CLBT – Research Report), with a price target of $28.00.
Mike Cikos has given his Buy rating due to a combination of factors observed at Cellebrite’s recent Case-to-Closure User Summit. The event, which gathered over 500 professionals from both public and private sectors, highlighted the strength and appeal of Cellebrite’s platform offerings. Additionally, there is reassurance that the policy uncertainties under the Trump administration have not negatively influenced customer behavior or spending patterns.
Furthermore, Cellebrite’s strategic focus on enhancing consulting services and optimizing under-utilized software has been a priority, showcasing their commitment to efficiency. Importantly, concerns about potential impacts on grant writing have not materialized, alleviating fears about adverse effects from federal to state and local levels. These insights collectively support the positive outlook and justify the Buy rating for Cellebrite DI’s stock.
According to TipRanks, Cikos is a 4-star analyst with an average return of 7.1% and a 46.13% success rate. Cikos covers the Technology sector, focusing on stocks such as Cellebrite DI, Dynatrace, and Cloudflare.