Jonathan Ho Reiterates Buy on Cellebrite, Citing Strong Beat, Expanding Margins and AI-Driven Growth with 20%+ Upside Potential

William Blair analyst Jonathan Ho has reiterated a Buy rating on Cellebrite (CLBT), citing strong financial performance, AI-driven product momentum, and expanding margins. The company exceeded revenue and adjusted EBITDA expectations, showing double-digit organic and subscription growth. Ho highlights the strategic potential of products like Genesis and Guardian, along with positive customer feedback and FedRAMP High authorization for federal opportunities. Despite soft near-term revenue guidance, management maintains strong long-term targets, with Ho projecting over 20% upside in the next year. Lake Street also issued a Buy rating with a $21.00 price target.