Cellebrite price target raised to $25 from $23 at TD Cowen

TD Cowen raised the firm’s price target on Cellebrite (CLBT) to $25 from $23 and keeps a Buy rating on the shares. The firm met with mangement and came away believing the company is well-positioned to maintain over 20% growth and consistent profitability as it aims for $1B in ARR by FY27and the company’s platform leveraging automation and AI capabilities should sustain a leading edge in a 16B TAM opportunity led by the company