Cellebrite price target raised to $20 from $16 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Cellebrite to $20 from $16 and keeps a Buy rating on the shares. Cellebrite put up another “exceptional” beat and raise quarter as operational momentum builds, the analyst tells investors in a research note. The firm added that, while top and bottom line momentum was impressive this quarter as was the guide, the overall feel around the durability of the growth is increasingly impressive.