Needham analyst Mike Cikos maintained a Buy rating on Cellebrite DI (CLBT – Research Report) today and set a price target of $28.00.
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Mike Cikos has given his Buy rating due to a combination of factors, despite some short-term challenges that Cellebrite DI is facing. The company’s first-quarter results were affected by various geopolitical events, such as changes in government administrations in the U.S., France, and Canada. However, these factors are considered temporary, and the core financial metrics such as ARR, Revenue, and EBITDA for CY25 have surpassed expectations.
Cikos believes that the management’s focus on enhancing customer experience and modernizing processes will drive sustainable long-term growth. Additionally, the significant progress in the Inseyets upgrade cycle, with more than half of migrations expected to be completed by the end of CY25, supports a positive outlook. These strategic initiatives are the basis for the upward revision of estimates and the reinforcement of a Buy rating for CLBT stock.
According to TipRanks, Cikos is a 5-star analyst with an average return of 15.3% and a 61.66% success rate. Cikos covers the Technology sector, focusing on stocks such as Okta, Tenable Holdings, and Dynatrace.