Needham Sticks to Their Buy Rating for Cellebrite DI (CLBT)

Needham analyst Mike Cikos maintained a Buy rating on Cellebrite DI (CLBTResearch Report) today and set a price target of $6.50. The company’s shares opened today at $5.43.

Cikos covers the Technology sector, focusing on stocks such as New Relic, Alteryx, and Cellebrite DI. According to TipRanks, Cikos has an average return of 1.4% and a 45.07% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cellebrite DI with a $9.83 average price target.

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Based on Cellebrite DI’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $62.39 million and a net profit of $55.44 million. In comparison, last year the company earned a revenue of $53.28 million and had a net profit of $3.59 million

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Cellebrite offers digital intelligence solutions. Its platform and solutions help law enforcement agencies (police departments, armed services, public defenders, start departments) and enterprise customers to better collect, review, analyze, and manage digital data in legally sanctioned investigations.

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