Cellebrite price target raised to $24 from $23 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Cellebrite (CLBT) to $24 from $23 and keeps a Buy rating on the shares. The firm says Cellebrite put up another exceptional quarter and raised the annual guide. The upgrade cycle of the base to the new Inseyets suite of products, in combination with the expanding penetration of unlocks into the base, are the key drivers over the next few years, Craig-Hallum adds.