Cellebrite price target lowered to $18 from $24 at Needham

Needham lowered the firm’s price target on Cellebrite (CLBT) to $18 from $24 but keeps a Buy rating on the shares. The company outperformed guidance and expectations, with total ARR growing 21% y/y, while the management’s 2026 outlook lived up to commentary on the prior earnings call for conviction in an ARR re-acceleration, the analyst tells investors in a research note.