Cellebrite price target raised to $21 from $17 at Lake Street

Lake Street raised the firm’s price target on Cellebrite (CLBT) to $21 from $17 and keeps a Buy rating on the shares following what the firm calls “another solid quarter on both the top and bottom line.” Looking ahead to 2025, the firm says it was “pleased” to see the company’s confidence in “Rule of 45” ARR growth plus AEBITDA margin and Lake Street notes that it raised its current and out year estimates.