Needham lowered the firm’s price target on Cellebrite (CLBT) to $15 from $18 and keeps a Buy rating on the shares. The company’s Q1 results outperformed consensus estimates across the board, though the firm is reducing its price target to reflect multiple compression, the analyst tells investors in a research note.
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Read More on CLBT:
- AI Models Turn More Positive on Cellebrite as Fundamentals Outrun the Chart
- Cellebrite Earnings Call Highlights AI-Fueled Growth
- Jonathan Ho Reiterates Buy on Cellebrite, Citing Strong Beat, Expanding Margins and AI-Driven Growth with 20%+ Upside Potential
- Cellebrite reports Q1 non-GAAP EPS 12c, consensus 9c
- Cellebrite sees Q2 revenue $130M-$133M, consensus $134.78M